Tang Capital Management ERAS Position
Active5-Fund ConvergenceTang Capital Management trimmed their position in Erasca Inc. (ERAS) in Q4 2025, holding $3.3M worth of shares across 900,000 shares.
The position was first reported in Q4 2023 and has been tracked across 9 quarterly 13F filings.
ERAS is a convergence signal: 5 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 3 readout for Naporafenib in 745 days (Apr 30, 2028), making the timing of Tang Capital's position particularly relevant.
About Erasca Inc.
Erasca, Inc., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead candidates include ERAS-007, an oral inhibitor of ERK1/2 for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia; and ERAS-601, an oral SHP2 inhibitor for patients with advanced or metastatic solid tumors. It is also developing ERAS-801, a central nervous system-penetrant EGFR inhibitor for the treatment of patients with recurrent glioblastoma multiforme. The company was incorporated in 2018 and is headquartered in San Diego, California.
Full company profile →Short Interest
9.5%
6.4 days to cover
Tang Capital Management ERAS Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q4 2025 | Decreased | 900,000 | -602,915 | $3.3M |
| Q3 2025 | Held | 1,502,915 | — | $3.3M |
| Q2 2025 | Increased | 1,502,915 | +312,903 | $1.9M |
| Q1 2025 | Increased | 1,190,012 | +587,097 | $1.6M |
| Q4 2024 | Increased | 602,915 | +100,000 | $1.5M |
| Q3 2024 | Decreased | 502,915 | -47,085 | $1.4M |
| Q2 2024 | Increased | 550,000 | +450,000 | $1.3M |
| Q1 2024 | Decreased | 100,000 | -50,000 | $206K |
| Q4 2023 | New | 150,000 | +150,000 | $320K |
Frequently Asked Questions
Does Tang Capital Management own ERAS?
Yes. As of Q4 2025, Tang Capital Management holds 900,000 shares of Erasca Inc. (ERAS) valued at $3.3M. This data comes from their SEC 13F filing.
How many hedge funds own ERAS?
5 specialist biotech hedge funds currently hold ERAS, including Cormorant Asset Management, Rock Springs Capital, EcoR1 Capital and 1 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Tang Capital Management first buy ERAS?
Tang Capital Management's position in ERAS was first reported in Q4 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Tang Capital Management's ERAS position increasing or decreasing?
Tang Capital Management trimmed their ERAS position in the most recent quarter, reducing by 602,915 shares.
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