Fmr LLC Sells 6,283 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Fmr LLC cut its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 406,814 shares of the company’s stock after selling 6,283 shares during the period. Fmr LLC’s holdings in Disc Medicine were worth $19,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake 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 during the 3rd quarter worth approximately $131,000. Finally, SG Americas Securities LLC boosted its position in shares of Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after acquiring an additional 1,247 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Disc Medicine Stock Performance

Disc Medicine stock opened at $67.47 on Wednesday. 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 cap of $2.01 billion, a PE ratio of -16.95 and a beta of 0.75. The firm’s 50-day simple moving average is $56.26 and its 200 day simple moving average is $49.06.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

Insider Activity

In other news, insider William Jacob Savage sold 14,183 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the sale, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,644,507.25. This represents a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Richard White sold 7,136 shares of the stock in a transaction 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 32,836 shares of company stock valued at $2,038,816 over the last quarter. Company insiders own 4.24% of the company’s stock.

Analyst Ratings Changes

IRON has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank raised their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Monday. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $87.50.

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.