Raymond James Financial Inc. Purchases New Position in Disc Medicine, Inc. (NASDAQ:IRON)

Raymond James Financial Inc. acquired a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 88,002 shares of the company’s stock, valued at approximately $5,579,000. Raymond James Financial Inc. owned 0.30% of Disc Medicine as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Disc Medicine in the 3rd quarter valued at $131,000. Quantbot Technologies LP bought a new position in Disc Medicine during the third quarter worth about $146,000. Intech Investment Management LLC acquired a new position in Disc Medicine in the third quarter valued at about $228,000. China Universal Asset Management Co. Ltd. grew its stake 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 acquiring an additional 593 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Disc Medicine in the third quarter worth about $445,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of IRON stock opened at $53.70 on Tuesday. The company has a fifty day moving average price of $55.16 and a two-hundred day moving average price of $56.13. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $68.73. The stock has a market cap of $1.86 billion, a P/E ratio of -13.49 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, equities research analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Scotiabank lifted their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. TD Cowen began coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. 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. Wedbush restated an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald upped their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $93.80.

Insider Transactions at Disc Medicine

In other news, Director Mona Ashiya sold 10,011 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the completion of the sale, the director now owns 187,297 shares in the company, valued at approximately $10,114,038. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John D. Quisel sold 13,012 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $61.95, for a total transaction of $806,093.40. Following the completion of the transaction, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,464,426.75. This trade represents a 15.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 376,464 shares of company stock worth $20,614,329. 4.24% of the stock is owned by company insiders.

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.