Disc Medicine, Inc. (NASDAQ:IRON) Shares Acquired by Exome Asset Management LLC

Exome Asset Management LLC increased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,516 shares of the company’s stock after purchasing an additional 3,516 shares during the quarter. Disc Medicine accounts for approximately 2.1% of Exome Asset Management LLC’s holdings, making the stock its 18th biggest position. Exome Asset Management LLC’s holdings in Disc Medicine were worth $3,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRON. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine during the 2nd quarter worth approximately $129,000. Quest Partners LLC acquired a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $131,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the third quarter valued at approximately $146,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Stifel Nicolaus upped their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Morgan Stanley raised 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. Finally, Scotiabank raised their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Nine 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 has an average rating of “Buy” and an average price target of $87.50.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $64.89 on Friday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -16.30 and a beta of 0.76. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The business’s 50-day simple moving average is $57.13 and its 200 day simple moving average is $49.49.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the completion of the transaction, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. This represents a 18.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,836 shares of company stock worth $2,038,816. Corporate insiders own 4.24% of the company’s stock.

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.