With 62% Ownership in Erasca, Inc. (NASDAQ:ERAS), Institutional Investors Have a Lot Riding on the Business
With 62% Ownership in Erasca, Inc. (NASDAQ:ERAS), Institutional Investors Have a Lot Riding on the Business
Key Insights
主要见解
- Institutions' substantial holdings in Erasca implies that they have significant influence over the company's share price
- The top 11 shareholders own 53% of the company
- 12% of Erasca is held by insiders
- 机构在Erasca的大量持股意味着他们对公司的股价有重大影响
- 该公司前11名股东拥有公司的53%股份
- Erasca的12%股份由内部持有者持有
A look at the shareholders of Erasca, Inc. (NASDAQ:ERAS) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are institutions with 62% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).
查看Erasca, Inc. (NASDAQ:ERAS)的股东,可以告诉我们哪个群体最强大。持有最大股份的是拥有62%所有权的机构。也就是说,如果股票上涨,这个群体将获益最多(或如果市场走低则损失最多)。
And things are looking up for institutional investors after the company gained US$65m in market cap last week. One-year return to shareholders is currently 21% and last week's gain was the icing on the cake.
公司上周市值增加了6500万美元,机构投资者的前景看好。 股东的一年回报率目前为21%,而上周的增长是锦上添花。
Let's delve deeper into each type of owner of Erasca, beginning with the chart below.
让我们深入研究Erasca的每种所有者,从下面的图表开始。
What Does The Institutional Ownership Tell Us About Erasca?
机构投资者对Erasca的持股情况告诉我们什么?
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
机构投资者通常将自己的回报与常见的指数回报进行比较。因此,他们通常会考虑购买包括在相关基准指数中的较大公司。
Erasca already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Erasca's earnings history below. Of course, the future is what really matters.
Erasca已经有机构在股东名册上。 实际上,他们在公司拥有一部分股权。 这意味着为这些机构工作的分析师已经研究过股票,他们喜欢它。 但就像其他人一样,他们也可能是错误的。 如果多个机构同时改变对某只股票的看法,你可能会看到股价迅速下跌。 因此,值得看一看Erasca的以下收入历史记录。 当然,未来才是真正重要的。
Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. We note that hedge funds don't have a meaningful investment in Erasca. Looking at our data, we can see that the largest shareholder is the CEO Jonathan Lim with 11% of shares outstanding. The second and third largest shareholders are VR Adviser, LLC and Frazier Life Sciences Management, LP, with an equal amount of shares to their name at 5.7%.
机构投资者拥有公司超过50%的股份,因此他们可能会强烈影响董事会决策。我们注意到,对于Erasca来说,对冲基金并没有意义重大的投资。根据我们的数据,我们可以看到最大的股东是首席执行官Jonathan Lim,持有11%的股份。第二和第三大股东分别是VR Adviser,LLC和Frazier Life Sciences Management,LP,他们的股份比例相等,都为5.7%。
After doing some more digging, we found that the top 11 have the combined ownership of 53% in the company, suggesting that no single shareholder has significant control over the company.
经过进一步调查,我们发现前11名股东在公司中拥有53%的综合所有权,这表明没有单一股东对公司拥有重大控制权。
Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.
研究机构所有权是衡量和过滤股票预期性能的好方法。通过研究分析师的情绪,也可以实现同样的效果。很多分析师都在关注该股票,看看他们的预测值得不值得。
Insider Ownership Of Erasca
Erasca的内部持股情况
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
虽然内部人员的具体定义可能是主观的,但几乎所有人都认为董事会成员是内部人员。公司管理层应向董事会回答问题,后者应代表股东的利益。值得注意的是,有时高层管理人员也会成为董事会成员。
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
当内部人持股情况表明领导层思考和公司真正所有者一样时,内部所有权是积极的。然而,高达内部人士所有权也可能为公司内的小团体带来巨大的权力。在某些情况下,这可能是负面的。
Our most recent data indicates that insiders own a reasonable proportion of Erasca, Inc.. Insiders own US$92m worth of shares in the US$768m company. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.
根据我们最近的数据显示,内部持有人拥有Erasca, Inc.相当比例的股份。内部持有人在这家市值76800万美元的公司中拥有价值9200万美元的股份。我们认为这显示了与股东的利益一致,但值得注意的是,该公司仍然相当小;一些内部持有人可能是该业务的创始人。您可以点击这里查看这些内部持有人是否一直在买入或卖出。
General Public Ownership
一般大众所有权
The general public, who are usually individual investors, hold a 14% stake in Erasca. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
一般公众,通常是个人投资者,在Erasca持有14%的股份。虽然这种所有权比例可能不足以影响对他们有利的政策决策,但他们仍然可以对公司政策产生集体影响。
Private Equity Ownership
股权投资公司持有8.8%的股份,有能力参与塑造以价值创造为重点的公司策略。一些投资者可能会因此而受到鼓舞,因为股权投资公司有时可以鼓励市场看到公司的价值,从而采取有益的策略。另外,那些持有者可能在将其上市后退出投资。
Private equity firms hold a 11% stake in Erasca. This suggests they can be influential in key policy decisions. Some investors might be encouraged by this, since private equity are sometimes able to encourage strategies that help the market see the value in the company. Alternatively, those holders might be exiting the investment after taking it public.
股权投资公司持有Erasca 11%的股份。这表明他们可能会对重要政策决策产生影响。一些投资者可能会因此感到鼓舞,因为私人股权有时能够鼓励公司采取能够让市场看到该公司价值的策略。另外,这些持有者可能会在公司上市后退出投资。
Next Steps:
下一步:
It's always worth thinking about the different groups who own shares in a company. But to understand Erasca better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with Erasca (at least 3 which are a bit concerning) , and understanding them should be part of your investment process.
始终值得考虑公司股权归属的不同群体。但要更好地了解Erasca,我们需要考虑许多其他因素。例如,要考虑到投资风险的可能性。我们已经确认了Erasca存在4个警示信号(至少有3个有点引人担忧),理解这些信号应该成为你投资过程的一部分。
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
但最终,决定该业务所有者将获得多大利益的是未来而非过去。因此,我们认为最好查看此免费报告,以了解分析师是否预测更光明的未来。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注:本文中的数据是使用最后一个财务报表日期结束的为期12个月的数据计算的。这可能与全年年度报告数据不一致。
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