Wed Sep 25 07:19:11 UTC 2024: ## Victory Capital Management Increases Stake in Erasca, Inc.

**New York, NY** – Victory Capital Management Inc. has increased its stake in Erasca, Inc. (NASDAQ: ERAS) by 82.2% during the second quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission.

This move comes amidst a flurry of activity from other hedge funds, with several institutions buying and selling shares of the clinical-stage precision oncology company. Notable amongst them was Pale Fire Capital SE, which boosted its stake in Erasca by 342.0% during the fourth quarter, now owning 186,101 shares worth $396,000.

Institutional investors now own 67.78% of Erasca’s stock.

Analysts are generally bullish on Erasca. HC Wainwright lifted its price objective from $5.00 to $6.00 and gave the stock a “buy” rating, while Goldman Sachs Group reduced its price objective from $4.00 to $3.00 but still maintained a “buy” rating. MarketBeat, which aggregates analyst data, gives the stock an average rating of “Moderate Buy” and a consensus price target of $6.00.

Erasca reported earnings on August 12th, missing analyst estimates by $0.12 per share. However, the company continues to focus on developing therapies for patients with RAS/MAPK pathway-driven cancers, with its lead product, naporafenib, currently in a Phase 1b trial for patients with RAS Q16X solid tumors.

The company is also planning to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.

**Disclaimer:** This article is intended for informational purposes only and does not constitute financial advice.

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