Arizona State Retirement System Has $300,000 Stake in Disc Medicine, Inc. (NASDAQ:IRON)

Arizona State Retirement System reduced its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,725 shares of the company’s stock after selling 396 shares during the quarter. Arizona State Retirement System’s holdings in Disc Medicine were worth $300,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IRON. Geode Capital Management LLC lifted its stake in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock valued at $23,333,000 after purchasing an additional 70,983 shares during the last quarter. State Street Corp lifted its position in shares of 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 buying an additional 235,115 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Disc Medicine during the 3rd quarter worth approximately $589,000. Charles Schwab Investment Management Inc. raised its stake in Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after acquiring an additional 19,401 shares during the period. Finally, Barclays PLC lifted its holdings in Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after purchasing an additional 22,202 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank boosted their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. TD Cowen assumed coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus target price of $89.10.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $51.02 on Friday. The business’s 50 day simple moving average is $56.16 and its 200 day simple moving average is $55.97. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $68.86. The company has a market capitalization of $1.76 billion, a P/E ratio of -12.82 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its earnings results 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. On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, Director Mona Ashiya sold 83,182 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $54.45, for a total transaction of $4,529,259.90. Following the completion of the sale, the director now directly owns 194,209 shares in the company, valued at $10,574,680.05. This represents a 29.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of Disc Medicine stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $87,873.80. Following the completion of the transaction, the chief operating officer now owns 40,555 shares in the company, valued at approximately $2,213,491.90. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,408 shares of company stock worth $20,027,286 over the last ninety days. Corporate insiders own 4.24% of the company’s stock.

Disc Medicine Company 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.