Erasca (NASDAQ:ERAS) Stock Price Up 1.1%

Erasca, Inc. (NASDAQ:ERASGet Rating)’s stock price rose 1.1% during mid-day trading on Friday . The company traded as high as $7.57 and last traded at $7.50. Approximately 1,279 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 912,246 shares. The stock had previously closed at $7.42.

Erasca Price Performance

The business’s 50 day moving average is $8.40 and its 200-day moving average is $7.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Erasca in the second quarter valued at approximately $27,000. Ameritas Investment Partners Inc. grew its stake in shares of Erasca by 212.7% during the first quarter. Ameritas Investment Partners Inc. now owns 4,957 shares of the company’s stock worth $43,000 after buying an additional 3,372 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Erasca during the first quarter worth $64,000. Exane Derivatives bought a new stake in shares of Erasca during the second quarter worth $80,000. Finally, SG Americas Securities LLC bought a new stake in shares of Erasca during the second quarter worth $92,000. 63.00% of the stock is owned by institutional investors.

Erasca Company Profile

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Erasca, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead candidates include ERAS-007, an oral inhibitor of ERK1/2 for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia; and ERAS-601, an oral SHP2 inhibitor for patients with advanced or metastatic solid tumors.

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