Erasca Stock Is Up 715%. Here’s Why One Biotech Fund Still Bought $68 Million More

Cormorant Asset Management disclosed a new position in Erasca (NASDAQ:ERAS) in its May 15, 2026, SEC filing, purchasing 5,800,000 shares in a trade estimated at $68.55 million based on quarterly average pricing.According to its SEC filing dated May 15, 2026, Cormorant Asset Management initiated a new position in Erasca by acquiring 5,800,000 shares. The estimated transaction value was $68.55 million, calculated using the mean closing price for the first quarter of 2026. The quarter-end value of the position reached $93.84 million, reflecting share accumulation and changes in Erasca’s stock price.Erasca, Inc. is a clinical-stage biotechnology company specializing in targeted oncology therapies for RAS/MAPK pathway-driven cancers. The company leverages a pipeline of differentiated small molecule inhibitors aimed at high unmet medical needs in oncology. Its strategic focus on innovative drug development positions it to address significant gaps in cancer treatment and drive long-term value upon successful commercialization.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool