Cormorant Amends Erasca 13D Filing; Ownership Update

TL;DR

**Cormorant Asset Management updated its Erasca stake, signaling a change in their investment position.**

AI Summary

Cormorant Asset Management, LP, a significant shareholder in Erasca, Inc., filed an Amendment No. 3 to its Schedule 13D on January 30, 2024. This filing indicates a change in their beneficial ownership of Erasca's Common Stock. While the specific details of the change (buy or sell) are not provided in the excerpt, an amendment suggests a material change in their holdings or investment intent. This matters to investors because large institutional holder activity can signal confidence or concern about the company's future prospects, potentially influencing stock price.

Why It Matters

Changes in major institutional ownership can impact investor sentiment and stock valuation, as it signals a shift in a large holder's view of the company.

Risk Assessment

Risk Level: medium — The filing is an amendment, indicating a change in a significant holder's position, which could be positive or negative depending on the undisclosed details of the change.

Analyst Insight

Investors should review the full SC 13D/A filing to understand the specific changes in Cormorant Asset Management's beneficial ownership of Erasca, Inc. common stock, as this could indicate a shift in a major investor's outlook.

Key Numbers

• 0000929638-24-000306 — Accession Number (Unique identifier for this specific SEC filing)
• 20240130 — Filing Date (The date this amendment was filed with the SEC)
• Amendment No. 3 — Amendment Number (Indicates this is the third update to the original Schedule 13D filing by Cormorant regarding Erasca)
• 29479A108 — CUSIP Number (Unique identification number for Erasca, Inc.'s Common Stock)

Key Players & Entities

• Cormorant Asset Management, LP (company) — filer of the SC 13D/A, a significant shareholder
• Erasca, Inc. (company) — the subject company whose securities are being reported
• BIHUA CHEN (person) — listed as a group member
• CORMORANT GLOBAL HEALTHCARE GP, LLC (company) — listed as a group member
• CORMORANT GLOBAL HEALTHCARE MASTER FUND, LP (company) — listed as a group member
• CORMORANT PRIVATE HEALTHCARE FUND II, LP (company) — listed as a group member
• CORMORANT PRIVATE HEALTHCARE GP II, LLC (company) — listed as a group member

Forward-Looking Statements

• The full filing will reveal whether Cormorant Asset Management, LP increased or decreased its stake in Erasca, Inc. (Cormorant Asset Management, LP) — high confidence, target: Immediately upon review of the full filing
• The market reaction to this filing will depend on the nature and magnitude of the change in Cormorant's ownership. (Erasca, Inc. stock price) — medium confidence, target: Within 1-3 trading days

FAQ

Key Financial Figures

• $2.0145 — arket sale November 28, 2023 565,385 $2.0145(1)(9) Open market sale November 29, 2
• $1.8048 — ket sale November 29, 2023 1,463,665 $1.8048(2)(9) Open market sale November 30, 2
• $1.7059 — market sale November 30, 2023 84,196 $1.7059(3)(9) Open market sale December 1, 20
• $1.6105 — market sale December 1, 2023 700,000 $1.6105(4)(9) Open market sale December 1, 20
• $1.6802 — market sale December 1, 2023 325,000 $1.6802(5)(9) Open market sale December 4, 20
• $1.6662 — market sale December 4, 2023 241,853 $1.6662(6)(9) Open market sale December 5, 20
• $1.6816 — market sale December 5, 2023 933,147 $1.6816(7)(9) Open market sale December 6, 20
• $1.6552 — rket sale December 6, 2023 6,500,000 $1.6552(8)(9) (1) Represents the weighted aver
• $1.99 — transaction date at prices ranging from $1.99 to $2.055 per share. (2) Represents th
• $2.055 — on date at prices ranging from $1.99 to $2.055 per share. (2) Represents the weighted
• $1.80 — transaction date at prices ranging from $1.80 to $1.985 per share. (3) Represents th
• $1.985 — on date at prices ranging from $1.80 to $1.985 per share. (3) Represents the weighted
• $1.70 — transaction date at prices ranging from $1.70 to $1.72 per share. (4) Represents the
• $1.72 — on date at prices ranging from $1.70 to $1.72 per share. (4) Represents the weighted
• $1.55 — transaction date at prices ranging from $1.55 to $1.67 per share. (5) Represents the

Filing Documents

• cormorant_sc13da.htm (SC 13D/A) — 92KB
• 0000929638-24-000306.txt ( ) — 94KB

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer

is hereby amended and supplemented as follows

Item 5 is hereby amended and supplemented as follows: (a) and (b) See Items 7-13 on the cover pages. (c) The Reporting Persons effected the following transactions in the Company's Common Stock in the 60 day period beginning on the date requiring the filing of this Schedule 13D: Transaction Date No. Shares Avg. Price Per Share Open market sale November 28, 2023 565,385 $2.0145(1)(9) Open market sale November 29, 2023 1,463,665 $1.8048(2)(9) Open market sale November 30, 2023 84,196 $1.7059(3)(9) Open market sale December 1, 2023 700,000 $1.6105(4)(9) Open market sale December 1, 2023 325,000 $1.6802(5)(9) Open market sale December 4, 2023 241,853 $1.6662(6)(9) Open market sale December 5, 2023 933,147 $1.6816(7)(9) Open market sale December 6, 2023 6,500,000 $1.6552(8)(9) (1) Represents the weighted average sale price of Common Stock (the "shares") sold in a series of open market transactions on the transaction date at prices ranging from $1.99 to $2.055 per share. (2) Represents the weighted average sale price of the shares sold in a series of open market transactions on the transaction date at prices ranging from $1.80 to $1.985 per share. (3) Represents the weighted average sale price of the shares sold in a series of open market transactions on the transaction date at prices ranging from $1.70 to $1.72 per share. (4) Represents the weighted average sale price of the shares sold in a series of open market transactions on the transaction date at prices ranging from $1.55 to $1.67 per share. (5) Represents the weighted average sale price of the shares sold in a series of open market transactions on the transaction date at prices ranging from $1.68 to $1.70 per share. (6) Represents the weighted average sale price of the shares sold in a series of open market transactions on the transaction date at prices ranging from $1.65 to $1.70 per share. (7) Represents the weighted average sale price of the shares sold in a series of

View Full Filing

View this SC 13D/A filing on SEC EDGAR