Fmr LLC Has $19.99 Million Stock Holdings in Disc Medicine, Inc. (NASDAQ:IRON)

Fmr LLC trimmed its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 406,814 shares of the company’s stock after selling 6,283 shares during the quarter. Fmr LLC owned about 1.37% of Disc Medicine worth $19,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IRON. The Manufacturers Life Insurance Company lifted its stake in shares of Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after buying an additional 771 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Disc Medicine by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after buying an additional 19,401 shares during the period. Intech Investment Management LLC bought a new stake in shares of Disc Medicine in the third quarter valued at about $228,000. Quest Partners LLC bought a new stake in shares of Disc Medicine in the third quarter valued at about $131,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Disc Medicine by 96.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after buying an additional 2,813 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Disc Medicine

In other news, insider William Jacob Savage sold 14,183 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the sale, the insider now directly owns 40,405 shares of the company’s stock, valued at approximately $2,644,507.25. This represents a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the stock in a transaction dated 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. In the last ninety days, insiders have sold 32,836 shares of company stock valued at $2,038,816. 4.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Monday. Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Scotiabank raised their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a research note on Monday. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $87.50.

Disc Medicine Stock Up 4.3 %

Shares of NASDAQ IRON opened at $67.47 on Wednesday. The company’s fifty day moving average is $56.26 and its 200-day moving average is $49.06. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -16.95 and a beta of 0.75. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60.

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

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.