Geode Capital Management LLC Purchases 70,983 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Geode Capital Management LLC boosted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 17.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,719 shares of the company’s stock after acquiring an additional 70,983 shares during the quarter. Geode Capital Management LLC owned 1.60% of Disc Medicine worth $23,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IRON. State Street Corp boosted its holdings in Disc Medicine by 39.7% in the third 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 last quarter. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine in the 2nd quarter valued at $34,318,000. Verition Fund Management LLC acquired a new stake in shares of Disc Medicine during the third quarter worth $589,000. Frazier Life Sciences Management L.P. raised its stake in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares during the last quarter. Finally, Blue Owl Capital Holdings LP lifted its holdings in Disc Medicine by 38.6% in the second quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after buying an additional 60,000 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Disc Medicine

In other news, CEO John D. Quisel sold 19,820 shares of Disc Medicine stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total value of $1,251,434.80. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,550,184.10. The trade was a 21.57 % decrease in their ownership of the stock. 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 stock was sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders have sold a total of 65,447 shares of company stock valued at $4,134,585 over the last three months. 4.24% of the stock is currently owned by insiders.

Disc Medicine Trading Down 2.2 %

Shares of NASDAQ:IRON opened at $64.12 on Friday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $1.91 billion, a PE ratio of -16.11 and a beta of 0.76. The stock’s fifty day simple moving average is $60.41 and its two-hundred day simple moving average is $51.45.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IRON shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank raised their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Monday, December 9th. 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 MarketBeat, the company has an average rating of “Buy” and a consensus price target of $87.50.

About Disc Medicine

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.