Watch for next pipeline catalyst readout (likely within 1-2 quarters). The active-manager accumulation pattern at these share prices suggests institutional conviction in upcoming clinical data. Monitor additional 13F filings at next quarter for follow-through buying.
Executive Summary
17 institutions accumulated $24.5M in Erasca (ERAS) during 2024-Q3 (net +$9.8M vs. Q2), led by Citadel, Dimensional Fund Advisors, and Schwab. Six sellers exited or trimmed $21.2M, with Balyasny fully exiting a $10.2M position. The heavy active-manager buying alongside large quants signals conviction in Erasca's pipeline catalysts ahead of multiple near-term clinical readouts.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$11.7M
▲ Buyers (17)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citadel | ADD | +31% | $11.8M | $4.0M |
| Dimensional Fund Advisors | DOUBLED | +141.6% | $3.3M | $2.1M |
| Schwab | ADD | +29.3% | $4.7M | $1.6M |
▼ Sellers (6)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Balyasny Asset Management | EXIT | -100% | $10.2M | -$10.2M |
| Janus Henderson Group | TRIM | -49.7% | $19.3M | -$8.1M |
| Point72 | NEAR_EXIT | -93.9% | $2.4M | -$2.3M |
Key Facts
- 17 buyers added $9.8M net vs. 6 sellers who reduced $21.2M; aggregate buyer holdings reached $24.5M
- Citadel added 1.02M shares (+31%), now holding $11.8M — the largest buyer position
- Balyasny fully exited a $10.2M position (4.32M shares)
- Janus Henderson trimmed $8.1M (49.7%), remaining at $11.2M — the largest seller
- Point72 near-exited a $2.4M position, reducing to $174K
- Dimensional Fund Advisors doubled (+142%) to 1.21M shares ($3.3M), Verition +650% to $463K
- Cluster dominated by active managers and quant funds, not passive rebalancing — higher conviction signal
Financial Impact
Institutional net buying of $9.8M in Q3 vs. $21.2M in selling, with aggregate buyer holdings of $24.5M — approximately 1-2% of float transacted
Risk Factors
- Early-stage biotech binary risk — pipeline failure would negate accumulation thesis
- 45-day filing lag; positions may have been unwound since quarter-end
- Janus Henderson and Balyasyn sell side offsets a portion of buying conviction
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-2024-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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