Erasca, Inc.

ERAS • NASDAQ

Erasca, Inc. is a biotechnology company in the healthcare sector on NASDAQ, led by Shannon R. Morris, M.D., Ph.D., with a market cap of $1.0B. As of Q3 2025, 76% of shares are held by 139 institutional investors, with Frazier Life Sciences Management, L.P. as the largest holder at 8.01%.

Chief Medical OfficerShannon R. Morris, M.D., Ph.D.

Market Cap$1.0B

Biotechnology

Healthcare

Employees129.0

Websiteerasca.com

Country

United States of America

Overview

Overview of institutional ownership in ERAS as of Q3 2025 with a market cap of $618.4M

All Institutions

Institutions: 139
Value Held: $468.6M
Shares Held: 215.0M
Avg Position: $3.4M
Median Position: $137.8K

Hedge Funds

Hedge Funds: 23
Value Held: $131.3M
Shares Held: 60.2M
Avg Position: $5.7M
Median Position: $763.0K

Ownership Breakdown

Institutional (non-HF)

54.55%

$337.3M

Hedge Funds

21.23%

$131.3M

Retail & Other

24.22%

$149.8M

Based on market cap of $618.4M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ERAS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Frazier Life Sciences Management, L.P. Venture Capital	James Newman Topper Managing Partner	$49.6M 1.48% of portfolio	8.01% 22.7M shares	Q2 2024 Held for 1y 5m	$3.3B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$44.1M 0.03% of portfolio	7.13% 20.2M shares	Q2 2024 Held for 1y 5m	$161.58B
VR Adviser, LLC Venture Capital	Jessica Tong Baron CFO	$38.9M 2.19% of portfolio	6.30% 17.9M shares	Q2 2024 Held for 1y 5m	$1.8B
Logos Global Management LP Hedge Fund•Long/Short	Graham Gordon Walmsley Managing Partner	$33.0M 3.34% of portfolio	5.34% 15.2M shares	Q2 2024 Held for 1y 5m	$987.5M
B BlackRock, Inc. Institution	-	$32.9M 0.00% of portfolio	5.31% 15.1M shares	Q3 2021 Held for 4y 2m	$5.67T
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Aaron Leonard Cowen CEO	$31.6M 0.96% of portfolio	5.11% 14.5M shares	Q2 2024 Held for 1y 5m	$3.3B
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	Dr. Senai Nmn Asefaw CIO	$29.6M 0.87% of portfolio	4.78% 13.6M shares	Q2 2024 Held for 1y 5m	$3.4B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$27.9M 0.00% of portfolio	4.52% 12.8M shares	Q3 2021 Held for 4y 2m	$6.69T
A ARCH VENTURE CORP Institution	-	$24.1M 4.89% of portfolio	3.90% 11.1M shares	Q4 2021 Held for 3y 11m	$492.4M
Vivo Capital, LLC Venture Capital	Jack Bech Nielsen Managing Partner	$20.2M 1.63% of portfolio	3.27% 9.3M shares	Q2 2024 Held for 1y 5m	$1.2B

Net Capital Flow

Institutional buying and selling activity for ERAS in Q3 2025

Traded: −$3.5M
Buyers: 57
Sellers: 60
Total Bought: +$16.1M
Total Sold: −$19.6M
Avg Position: $3.0M

Biggest Buyers

Institution	Net Bought	Current Position
Vivo Capital, LLC Venture Capital	+$5.5M +2.5M shares	$20.2M 9.3M shares
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	+$3.6M +1.7M shares	$29.6M 13.6M shares
GOLDMAN SACHS GROUP INC Institution	+$1.5M +697.3K shares	$5.5M 2.5M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$745.1K +341.8K shares	$745.1K 341.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$594.1K +272.5K shares	$2.2M 1.0M shares
J JANE STREET GROUP, LLC Institution	+$553.3K +253.8K shares	$841.6K 386.1K shares
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	+$436.0K +200.0K shares	$9.3M 4.3M shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	+$361.7K +165.9K shares	$361.7K 165.9K shares
Logos Global Management LP Hedge Fund•Long/Short	+$327.0K +150.0K shares	$33.0M 15.2M shares
VANGUARD GROUP INC Institution	+$253.4K +116.2K shares	$27.9M 12.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
Marshall Wace LLP Institution	−$3.4M −1.5M shares	$1.1M 526.0K shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	−$2.6M −1.2M shares	$3.0M 1.4M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$1.9M −883.2K shares	$6.4M 2.9M shares
Partner Fund Management, L.P. Hedge Fund•Sector	−$1.4M −1.1M shares	Sold Off 0 shares
Woodline Partners LP Hedge Fund•Long/Short	−$1.2M −540.0K shares	$3.3M 1.5M shares
Jain Global LLC Hedge Fund•Multi-Strategy	−$983.4K −774.3K shares	Sold Off 0 shares
Octagon Capital Advisors LP Hedge Fund•Sector	−$889.0K −700.0K shares	Sold Off 0 shares
UBS Group AG Institution	−$761.9K −349.5K shares	$318.6K 146.2K shares
MORGAN STANLEY RIA/Wealth	−$742.7K −340.7K shares	$585.7K 268.7K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$700.5K −321.5K shares	$3.0M 1.4M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ERAS in Q3 2025

New Positions: 8
New Value: $62.9K
Exited Positions: 16
Exited Value: $4.8M

New Positions

Institution	Position Value
C CROWLEY WEALTH MANAGEMENT, INC. RIA/Wealth	$32.7K 15.0K shares
G GTS SECURITIES LLC Institution	$23.5K 10.8K shares
O Optiver Holding B.V. Institution	$3.1K 1.4K shares
W WHITE BAY PT LLC Institution	$2.3K 1.1K shares
B BRYN MAWR TRUST CO/PA Institution	$940.0 431.0 shares
Sunbelt Securities, Inc. RIA/Wealth	$353.0 162.0 shares
Hartland & Co., LLC RIA/Wealth	$5.0 2.0 shares
Cloud Capital Management, LLC RIA/Wealth	- 21.0 shares

Exited Positions

Institution	Previous Position
Partner Fund Management, L.P. Hedge Fund•Sector	$1.4M 1.1M shares
Jain Global LLC Hedge Fund•Multi-Strategy	$983.4K 774.3K shares
Octagon Capital Advisors LP Hedge Fund•Sector	$889.0K 700.0K shares
Atom Investors LP Hedge Fund•Market Neutral	$698.4K 550.0K shares
Prosight Management, LP Hedge Fund•Long/Short	$305.2K 240.3K shares
H HRT FINANCIAL LLC Institution	$198.3K 156.2K shares
FRANKLIN RESOURCES INC Institution	$155.1K 122.1K shares
X XTX Topco Ltd Institution	$135.6K 106.8K shares
D Dynamic Technology Lab Private Ltd Institution	$37.1K 29.2K shares
C Catalyst Funds Management Pty Ltd Institution	$16.6K 13.1K shares

Options Activity

Institutions with the largest Call and Put options positions in ERAS as of Q3 2025

Call Positions: 3
Call Value: $613.0K
Put Positions: 2
Put Value: $69.8K

Call Positions

Institution	Position Value
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$453.0K 2.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$119.5K 548.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$40.5K 186.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$35.5K 163.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$34.2K 157.0 contracts

Most Committed Institutions

Institutions with ERAS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
A ARCH VENTURE CORP Institution	-	4.89% $24.1M	3.90% 11.1M shares	Q4 2021 Held for 3y 11m	$492.4M
5 5AM Venture Management, LLC Institution	-	4.32% $11.8M	1.91% 5.4M shares	Q2 2024 Held for 1y 5m	$273.0M
Logos Global Management LP Hedge Fund•Long/Short	Graham Gordon Walmsley Managing Partner	3.34% $33.0M	5.34% 15.2M shares	Q2 2024 Held for 1y 5m	$987.5M
VR Adviser, LLC Venture Capital	Jessica Tong Baron CFO	2.19% $38.9M	6.30% 17.9M shares	Q2 2024 Held for 1y 5m	$1.8B
Vivo Capital, LLC Venture Capital	Jack Bech Nielsen Managing Partner	1.63% $20.2M	3.27% 9.3M shares	Q2 2024 Held for 1y 5m	$1.2B
Frazier Life Sciences Management, L.P. Venture Capital	James Newman Topper Managing Partner	1.48% $49.6M	8.01% 22.7M shares	Q2 2024 Held for 1y 5m	$3.3B
SUVRETTA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Aaron Leonard Cowen CEO	0.96% $31.6M	5.11% 14.5M shares	Q2 2024 Held for 1y 5m	$3.3B
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	Jonathan Bo-Shing Chu Founder	0.95% $9.3M	1.51% 4.3M shares	Q2 2024 Held for 1y 5m	$983.0M
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	Dr. Senai Nmn Asefaw CIO	0.87% $29.6M	4.78% 13.6M shares	Q2 2024 Held for 1y 5m	$3.4B
S Siren, L.L.C. Institution	-	0.80% $19.1M	3.09% 8.8M shares	Q3 2024 Held for 1y 2m	$2.4B

Hedge Fund Spotlight

Discover hedge funds investing in ERAS

Soleus Capital Management, L.P.

Hedge Fund • Long/Short

Portfolio ManagerGuy Bezalel Levy

Portfolio Value: $1.8B
Positions: 85
Last Reported: Q3 2025

Sector Allocation

Position in Erasca, Inc.

Market Value: $4.7M
Shares Held: 2.2M
Portfolio Weight: 0.26%
Owned Since: 2024-Q2

Top Holding	Sector	Market Value	Weight
1 Krystal Biotech, Inc. KRYS	Biotechnology Healthcare	$179.9M	9.82%
2 TG Therapeutics TGTX	Biotechnology Healthcare	$138.9M	7.59%
3 NovoCure NVCR	Medical - Instruments & Supplies Healthcare	$124.6M	6.81%