Rhumbline Advisers Purchases 1,553 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Rhumbline Advisers grew its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,036 shares of the company’s stock after acquiring an additional 1,553 shares during the quarter. Rhumbline Advisers owned about 0.10% of Disc Medicine worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IRON. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 45.7% in 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. Quest Partners LLC acquired a new stake in shares of Disc Medicine in the third quarter worth $131,000. Quantbot Technologies LP purchased a new position in shares of Disc Medicine during the third quarter worth $146,000. Intech Investment Management LLC acquired a new position in Disc Medicine during the third quarter valued at $228,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Disc Medicine by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after purchasing an additional 593 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Down 3.3 %

NASDAQ:IRON opened at $54.33 on Tuesday. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The firm has a market cap of $1.62 billion, a PE ratio of -13.65 and a beta of 0.73. The stock has a fifty day moving average price of $57.89 and a 200 day moving average price of $55.70.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.08. Equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on IRON. Wedbush restated an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a report on Tuesday, November 5th. Scotiabank lifted their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Ten 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, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $89.10.

Insider Buying and Selling

In other news, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the completion of the sale, the chief financial officer now owns 69,530 shares in the company, valued at approximately $3,794,947.40. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John D. Quisel sold 5,574 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the completion of the sale, the chief executive officer now owns 154,828 shares of the company’s stock, valued at $8,450,512.24. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,080 shares of company stock worth $4,523,520 over the last 90 days. 4.24% of the stock is owned by insiders.

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.