Stifel Financial Corp Cuts Position in Disc Medicine, Inc. (NASDAQ:IRON)

Stifel Financial Corp trimmed its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 51.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,703 shares of the company’s stock after selling 5,015 shares during the quarter. Stifel Financial Corp’s holdings in Disc Medicine were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Amalgamated Bank raised its stake in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 337 shares during the period. Quest Partners LLC bought a new position in shares of Disc Medicine in the third quarter worth $131,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Disc Medicine during the 2nd quarter valued at $129,000. Finally, Quantbot Technologies LP purchased a new stake in Disc Medicine during the 3rd quarter worth about $146,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

NASDAQ:IRON opened at $64.12 on Monday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The business has a 50 day moving average of $60.41 and a 200 day moving average of $51.54. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -16.11 and a beta of 0.76.

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. As a group, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Wall Street Analysts Forecast Growth

IRON has been the topic of several analyst reports. Stifel Nicolaus upped their price target on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a report on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank boosted their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $87.50.

Insider Activity

In other news, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the transaction, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The stock was 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. Over the last three months, insiders have sold 65,447 shares of company stock valued at $4,134,585. 4.24% of the stock is currently owned by insiders.

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.