Acuta Capital Bet on Erasca (ERAS) and Targeted Cancer Treatments With a 354,575 Share Buy
Key Points
Acquired 354,575 shares; estimated trade size $4.19 million (based on quarterly average price)
Quarter-end holding: 354,575 shares valued at $5.74 million
The new stake comprised 4.05% of Acuta Capital’s reported equity assets, placing it outside the fund’s top five holdings
- 10 stocks we like better than Erasca ›
What happened
According to an SEC filing dated May 15, 2026, Acuta Capital Partners, LLC initiated a new position in Erasca (NASDAQ:ERAS) during the first quarter. The fund acquired 354,575 shares, with an estimated transaction value of $4.19 million based on the average closing price for the period. The quarter-end value of the stake rose to $5.74 million, a change reflecting both the share addition and price fluctuations during the quarter.
What else to know
- This was a new position for the fund, representing 4.05% of reported U.S. equity holdings as of March 31, 2026
- Top holdings after the filing:
- NASDAQ: PRAX: $27.35 million (19.8% of AUM)
- NASDAQ: TERN: $26.14 million (18.9% of AUM)
- NASDAQ: WHWK: $11.77 million (8.5% of AUM)
- NASDAQ: TNGX: $9.24 million (6.7% of AUM)
- NASDAQ: DRUG: $8.17 million (5.9% of AUM)
- As of May 14, 2026, Erasca shares were priced at $10.37, up 716.5% over the prior year, delivering alpha of 689.24 percentage points versus the S&P 500
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-05-15) | $10.23 |
| Market capitalization | $3.15 billion |
| Net income (TTM) | $-277.02 million |
| One-year price change | 705.5% |
Company Snapshot
- Develops and advances targeted therapies for RAS/MAPK pathway-driven cancers, with lead clinical candidates including ERAS-007 (oral ERK1/2 inhibitor), ERAS-601 (oral SHP2 inhibitor), and ERAS-801 (CNS-penetrant EGFR inhibitor).
- Operates as a clinical-stage biopharmaceutical company focused on the development and future commercialization of proprietary oncology therapeutics.
- Targets patients with difficult-to-treat cancers such as non-small cell lung cancer, colorectal cancer, acute myeloid leukemia, and recurrent glioblastoma multiforme.
Erasca, Inc. is a biotechnology company headquartered in San Diego, California, focused on discovering and developing therapies for cancers driven by the RAS/MAPK pathway. The company leverages a robust pipeline of oral targeted inhibitors, aiming to address significant unmet medical needs in oncology. Its strategy centers on advancing clinical candidates with differentiated mechanisms of action to establish a competitive edge in targeted cancer therapeutics.
What this transaction means for investors
Acuta Capital’s new Erasca position isn’t in the firm’s top five, but it’s a significant bet. It was the seventh largest position out of 27 at the end of March.
Hopefully, Acuta Capital exited its position in April, before the stock collapsed. The stock is down by more than half from the peak it set in April.
On April 27, the company reported phase 1 trial results for ERAS-0015, a cancer treatment candidate it describes as pan-RAS molecular glue. The company’s experimental treatments are designed to shut down the RAS/MAPK pathway, which is implicated in the spreading of solid tumors.
While the efficacy results were encouraging, a patient death led investors to question ERAS-0015’s future. It’s one of just two treatment candidates the company has in clinical-stage testing.
The clock is ticking for Erasca. Without any approved products to sell, it burned through $277 million over the past 12 months. At the end of March, the company had just 408.5 million in cash and cash equivalents on its balance sheet.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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