T. Rowe Price Investment Management Reports 6.8% Stake in Erasca, Inc. (ERAS)

T. Rowe Price Investment Management, Inc. filed a Schedule 13G/A on May 15, 2026, reporting a significant increase in its position in Erasca, Inc. (ERAS). As of the event date on March 31, 2026, the firm beneficially owns 21,224,264 shares of common stock, representing a 6.8% ownership stake in the company. This marks a substantial rise from a previous reported position of zero shares. The filing indicates that T. Rowe Price Investment Management holds sole dispositive power over all 21,224,264 shares and sole voting power over 20,502,610 shares. The securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This amendment (No. 3) confirms the investment advisor's role as a major institutional stakeholder in Erasca, a San Diego-based biotechnology company. The filing was signed by Ellen York, Vice President of T. Rowe Price Investment Management, Inc.