New York State Common Retirement Fund Cuts Stake in Disc Medicine, Inc. (NASDAQ:IRON)

New York State Common Retirement Fund lessened its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 38.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,276 shares of the company’s stock after selling 3,979 shares during the period. New York State Common Retirement Fund’s holdings in Disc Medicine were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Disc Medicine by 45.7% during the third 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 last quarter. Quest Partners LLC purchased a new stake in shares of Disc Medicine during the third quarter worth approximately $131,000. Quantbot Technologies LP acquired a new position in Disc Medicine in the 3rd quarter valued at $146,000. Intech Investment Management LLC purchased a new position in Disc Medicine in the 3rd quarter valued at $228,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $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 Stock Performance

Shares of Disc Medicine stock opened at $55.34 on Wednesday. The stock has a 50 day moving average of $57.70 and a 200 day moving average of $55.75. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -13.90 and a beta of 0.73. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $73.66.

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

Wall Street Analyst Weigh In

IRON has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Tuesday, November 5th. TD Cowen began coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Wedbush restated an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus lifted their price objective on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $89.10.

Insiders Place Their Bets

In related news, CEO John D. Quisel sold 19,820 shares of the business’s 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 sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,550,184.10. The trade was a 21.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela Stephenson sold 3,137 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the transaction, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,080 shares of company stock valued at $4,523,520 over the last 90 days. 4.24% of the stock is owned by company 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.