Disc Medicine, Inc. (NASDAQ:IRON) Shares Purchased by State Street Corp

State Street Corp grew its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 39.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 827,910 shares of the company’s stock after acquiring an additional 235,115 shares during the quarter. State Street Corp owned about 2.78% of Disc Medicine worth $40,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of IRON. Frazier Life Sciences Management L.P. increased its stake in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the period. Logos Global Management LP acquired a new position in shares of Disc Medicine during the second quarter valued at approximately $41,690,000. Point72 Asset Management L.P. acquired a new position in shares of Disc Medicine during the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C raised its holdings in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after purchasing an additional 303,954 shares during the period. Institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IRON. Stifel Nicolaus upped their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target on the stock. 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. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $87.50.

Insider Buying and Selling at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were 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. Insiders have sold a total of 45,627 shares of company stock valued at $2,883,150 in the last three months. 4.24% of the stock is currently owned by company insiders.

Disc Medicine Price Performance

IRON stock opened at $64.50 on Friday. The business has a 50-day moving average of $58.83 and a 200-day moving average of $50.53. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock has a market capitalization of $1.92 billion, a P/E ratio of -16.21 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Equities analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current year.

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.