The hedge fund acquired 354,575 shares of ERAS, reflecting a 4.05% allocation of its U.S. equity holdings as of March 31, 2026.
Acuta Capital Partners disclosed a new $4.19 million position in Erasca (NASDAQ:ERAS) in a May 15, 2026 SEC filing, purchasing 354,575 shares during the first quarter. The stake’s value rose to $5.74 million by quarter-end due to share additions and price movements.
The position accounted for 4.05% of Acuta’s reported U.S. equity holdings as of March 31, 2026. Erasca, a clinical-stage biopharmaceutical firm, focuses on targeted cancer therapies, including ERK1/2 and SHP2 inhibitors. Its shares traded at $10.37 on May 14, 2026, surging 716.5% year-over-year and outperforming the S&P 500 by 689.24 percentage points.
Acuta’s top holdings included PRAX ($27.35 million) and TERN ($26.14 million), with ERAS ranking among its smaller allocations. The fund’s move signals confidence in Erasca’s oncology pipeline, which targets difficult-to-treat cancers like non-small cell lung cancer.