The cluster is mixed with a slight net buying bias by dollar value ($1.4M net inflow), but the selling side includes passive heavyweights with larger relative cuts. Given the stock's strong 2026 run-up and 82% bullish analyst rating, the selling may reflect profit-taking and index rebalancing rather than fundamental deterioration. Monitor next 13F cycle for whether UBS/MS continue to exit and whether new active specialists initiate.
Executive Summary
Three large passive/asset manager institutions trimmed their Erasca positions in 2025-Q3, while two firms (Invesco and RenTech) added modestly. The net dollar outflow was significant relative to position sizes, with the top 3 sellers reducing by over $314K pre-adjustment. However, the bullish analyst consensus (82% buy-rated) and strong 2026 YTD performance suggest the selling may be tactical rebalancing rather than thesis abandonment.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.4M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Invesco | ADD | +63.8% | $615.0K | $396.0K |
| RenTech | ADD | +36.7% | $2.2M | $1.3M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| UBS | TRIM | 70.5% | $629.0K | -$310.0K |
| Morgan Stanley | TRIM | 55.9% | $774.0K | -$188.0K |
| Wellington Management Group | TRIM | 32.2% | $1.1M | -$184.0K |
Key Facts
- 2 institutions added shares (Invesco +64%, RenTech +37%) totaling ~$1.7M in new buying value
- 3 sellers trimmed: UBS (-71%), Morgan Stanley (-56%), Wellington (-32%), with net outward directional flow of -$314K
- RenTech's increase to 1.02M shares ($2.2M), the largest buyer, still at quant-scale rather than full conviction
- No institution exited completely; all remained long in some capacity
- Selling dominated by passive/index managers (UBS, MS) and a large asset manager (Wellington), not specialists
Financial Impact
Three sellers trimmed total net value by ~$314K while two buyers added ~$1.7M — net buying of ~$1.4M across all tracked funds, but selling was more concentrated (3 vs 2)
Risk Factors
- Passive selling could continue into Q4 if stock continues its rally, creating overhead supply
- Low conviction among sellers (all TRIMs, no full EXITs) leaves open the possibility of reversal if catalysts disappoint
- RenTech's ADD is mechanically small relative to its overall book, not a strong conviction signal
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ERAS-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | 8-K | $17.60 $15.55 | ▼ −11.65% | ▼ −12.96% | — |
Aug 17, 2026 6w ago | 144 | $18.28 $16.16 | ▼ −11.60% | ▼ −10.07% | — |
Aug 13, 2026 7w ago | Institutional Cluster | $17.86 $15.88 | ▼ −11.09% | ▼ −9.34% | — |
Aug 12, 2026 7w ago | 3 | $17.86 $15.88 | ▼ −11.09% | ▼ −9.34% | — |
Aug 11, 2026 7w ago | Press Release | $18.58 $16.03 | ▼ −13.72% | ▼ −11.83% | — |
Jul 22, 2026 10w ago | Press Release | $19.51 $18.07 | ▲ +7.38% | ▲ +10.28% | — |
Jul 14, 2026 11w ago | 8-K | $21.26 $18.58 | ▼ −12.61% | ▼ −14.95% | — |
Jul 14, 2026 11w ago | 424B5 | $21.26 $18.58 | ▼ −12.61% | ▼ −14.95% | — |
Jul 14, 2026 11w ago | Press Release | $19.50 $18.31 | ▲ +6.10% | ▲ +8.59% | — |
Jul 13, 2026 11w ago | Press Release | $19.50 $18.31 | ▼ −6.10% | ▼ −8.59% | — |
US Market Status
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