Disc Medicine, Inc. (NASDAQ:IRON) Stake Lifted by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 66.0% in the 4th quarter, Holdings Channel reports. The fund owned 8,076 shares of the company’s stock after buying an additional 3,212 shares during the period. SG Americas Securities LLC’s holdings in Disc Medicine were worth $512,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the last quarter. State Street Corp increased its position in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after acquiring an additional 235,115 shares during the period. Verition Fund Management LLC acquired a new stake in Disc Medicine in the 3rd quarter valued at approximately $589,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Disc Medicine by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after purchasing an additional 19,401 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Scotiabank boosted their price objective on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $88.90.

Insider Activity

In related news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares in the company, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders sold 85,557 shares of company stock worth $5,391,669 over the last quarter. Corporate insiders own 4.24% of the company’s stock.

Disc Medicine Trading Up 0.4 %

NASDAQ IRON opened at $55.80 on Friday. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The stock’s 50-day moving average price is $62.02 and its two-hundred day moving average price is $54.12. The company has a market cap of $1.66 billion, a PE ratio of -14.02 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. Research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.