AlphaQuest LLC Has $40,000 Position in Disc Medicine, Inc. (NASDAQ:IRON)

AlphaQuest LLC cut its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 76.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 629 shares of the company’s stock after selling 2,041 shares during the quarter. AlphaQuest LLC’s holdings in Disc Medicine were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Disc Medicine in the third quarter worth $131,000. Quantbot Technologies LP acquired a new position in shares of Disc Medicine in the third quarter worth $146,000. Intech Investment Management LLC acquired a new position in shares of Disc Medicine in the third quarter worth $228,000. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 worth $400,000 after acquiring an additional 593 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Disc Medicine in the third quarter worth $445,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Disc Medicine

In related news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,213,491.90. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mona Ashiya sold 83,182 shares of the stock in a transaction dated 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 transaction, the director now directly owns 194,209 shares of the company’s stock, valued at $10,574,680.05. This trade represents a 29.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,617 shares of company stock worth $19,182,953. Company insiders own 4.24% of the company’s stock.

Disc Medicine Stock Performance

NASDAQ IRON opened at $53.23 on Friday. The firm has a 50-day simple moving average of $55.40 and a 200 day simple moving average of $56.01. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $68.86. The stock has a market cap of $1.84 billion, a PE ratio of -13.37 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 for the quarter, beating the consensus estimate of ($1.06) by $0.08. Research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IRON has been the topic of a number of research reports. Wedbush reaffirmed 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. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. TD Cowen started coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $93.80.

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.