Rtw Investments 13F: Adds $293M to Erasca (ERAS) Stake

RTW Investments has significantly increased its stake in Erasca, Inc. (NasdaqGS: ERAS), a biotechnology company focused on cancer therapies. According to the latest 13F filing with the SEC, RTW Investments added 16,010,524 shares, boosting its holdings to 16,157,175 shares. This represents an astounding 10,917% increase, valuing the position at approximately $227 million as of the reporting period.

What Changed in RTW Investments' Erasca, Inc. Position

RTW Investments dramatically boosted its holdings in Erasca, Inc. by over 16 million shares, raising its total to 16,157,175 shares from just 146,651 shares. The substantial increase signifies a strong vote of confidence, with the value of the position now standing at about $227 million.

Other Institutional Activity in Erasca, Inc.

Several other institutional investors also made notable changes to their Erasca, Inc. positions. Frazier Life Sciences Management, L.P. increased its holdings by 1,945,752 shares, totaling 24,675,188 shares valued at around $399 million. T. Rowe Price Investment Management, Inc. added 5,148,232 shares, bringing its total to 21,259,646 shares worth approximately $344 million. BlackRock, Inc. grew its position by 4,554,076 shares, now holding 20,151,406 shares valued at about $326 million. Conversely, Venrock Adviser, LLC reduced its stake by 1,474,271 shares, ending with 16,382,812 shares valued at $265 million.

Erasca, Inc. Stock Up 24.0%

Shares of Erasca, Inc. (NasdaqGS: ERAS) recently traded near $14.05. The company has a market capitalization of approximately $4.37 billion. Erasca's forward P/E ratio isn't meaningful as the company is not currently profitable. Its beta stands at 0.735, suggesting less volatility compared to the market. The stock's 52-week range is between $1.21 and $24.28, with a 50-day moving average of $14.04 and a 200-day moving average of $8.30. The company maintains a strong current ratio of 9.52 and a quick ratio of 9.27, with a debt-to-equity ratio of 11.68.

Recent Earnings

Erasca, Inc. is expected to report its next earnings on August 12, 2026. The company has been focusing on developing therapies for cancer, but it has not been profitable, reflected in its negative return on equity of -69.86% and an EPS of -$0.93. The net margin remains at zero as the company is still in its clinical stage.

Insider Buying and Selling at Erasca, Inc.

Recent insider activity at Erasca, Inc. includes transactions by Chief Legal Officer Garner Ebun and Chief Medical Officer Shannon Morris. On April 1, 2026, Garner Ebun sold 80,000 shares under a planned transaction at an average price of $16.40. On the same day, Ebun also bought 80,000 shares at $1.70. Shannon Morris, on March 4, 2026, sold 20,000 shares at $15.04 and bought 20,000 shares at $1.70.

Analysts Set New Price Targets

Analysts have been active in updating their ratings for Erasca, Inc. On June 4, 2026, B of A Securities upgraded the stock to a 'hold' rating with a $16 price target. Mizuho maintained its 'buy' rating with a $26 target on May 12, 2026. Stifel also maintained a 'buy' rating, setting a target price of $30 on April 27, 2026. Overall, the consensus remains a 'buy', with a mean target price of $21 based on 10 analyst opinions.

About Erasca, Inc.

Erasca, Inc. is a clinical-stage biotechnology company based in San Diego, California. Founded in 2018, the company aims to discover and develop precision oncology therapies for cancers driven by the RAS/MAPK pathway. Under the leadership of CEO Dr. Jonathan E. Lim, the company is working on a promising pipeline of products, including ERAS-0015 and ERAS-4001, targeting RAS and KRAS mutations. Erasca collaborates with several partners like Novartis and Tango Therapeutics to advance its therapeutic offerings.

Bottom Line

RTW Investments' substantial increase in its stake in Erasca, Inc. underscores strong institutional interest in the company's potential. While Erasca is not yet profitable, its focus on innovative cancer therapies keeps investors watching closely. Remember, 13F filings reflect past positions and may not indicate current holdings.