Raymond James Financial Inc. Makes New Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Raymond James Financial Inc. bought a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the fourth quarter, HoldingsChannel.com reports. The firm bought 88,002 shares of the company’s stock, valued at approximately $5,579,000.

Several other hedge funds also recently made changes to their positions in IRON. Janus Henderson Group PLC boosted its stake in shares of Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after buying an additional 303,954 shares during the period. State Street Corp boosted its position in Disc Medicine by 39.7% in the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after buying an additional 83,731 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Disc Medicine by 53.7% during the third quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock worth $10,282,000 after buying an additional 73,140 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Disc Medicine by 17.6% during the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after buying an additional 70,983 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IRON. Scotiabank lifted their price target on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, TD Cowen assumed coverage on Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. 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.com, Disc Medicine has an average rating of “Buy” and an average target price of $93.80.

Insiders Place Their Bets

In other Disc Medicine news, insider Pamela Stephenson sold 3,137 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the completion of the transaction, the insider now owns 69,529 shares in the company, valued at $3,794,892.82. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mona Ashiya sold 10,011 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.00, for a total value of $540,594.00. Following the sale, the director now owns 187,297 shares in the company, valued at approximately $10,114,038. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,464 shares of company stock valued at $20,614,329 over the last ninety days. 4.24% of the stock is currently owned by insiders.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $53.70 on Tuesday. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $68.73. The company has a market capitalization of $1.86 billion, a PE ratio of -13.49 and a beta of 0.73. The business has a fifty day moving average price of $55.16 and a two-hundred day moving average price of $56.13.

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

Disc Medicine 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.