Intech Investment Management LLC Buys New Shares in Disc Medicine, Inc. (NASDAQ:IRON)

Intech Investment Management LLC purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,647 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank raised its stake in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $54,000 after purchasing an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine during the second quarter worth $129,000. Quest Partners LLC acquired a new position in shares of Disc Medicine in the third quarter valued at $131,000. Finally, SG Americas Securities LLC raised its position in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after purchasing an additional 1,247 shares during the period. Institutional investors own 83.70% of the company’s stock.

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total transaction of $928,277.35. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,836 shares of company stock worth $2,038,816. 4.24% of the stock is currently owned by insiders.

Disc Medicine Trading Down 3.3 %

IRON opened at $62.31 on Friday. The stock has a market capitalization of $1.85 billion, a P/E ratio of -16.20 and a beta of 0.76. The stock has a 50-day moving average price of $55.07 and a 200-day moving average price of $48.05. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank upped their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company started coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $85.80.

Disc Medicine 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.