Bleakley Financial Group LLC Invests $486,000 in Disc Medicine, Inc. (NASDAQ:IRON)

Bleakley Financial Group LLC acquired a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,667 shares of the company's stock, valued at approximately $486,000.

A number of other hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock valued at $54,000 after buying an additional 337 shares during the last quarter. Quest Partners LLC purchased a new stake in Disc Medicine during the third quarter valued at approximately $131,000. Quantbot Technologies LP purchased a new stake in Disc Medicine during the third quarter valued at approximately $146,000. Intech Investment Management LLC purchased a new stake in Disc Medicine during the third quarter valued at approximately $228,000. Finally, SG Americas Securities LLC raised its position in Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company's stock valued at $239,000 after purchasing an additional 793 shares during the period. Institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Performance

IRON remained flat at $54.10 during trading on Friday. The company's stock had a trading volume of 190,095 shares, compared to its average volume of 409,750. The stock has a 50-day moving average price of $60.16 and a 200 day moving average price of $54.70. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -13.59 and a beta of 0.73. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective on the stock. Morgan Stanley upgraded Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. HC Wainwright restated a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Stifel Nicolaus increased their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Nine 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 company presently has an average rating of "Buy" and a consensus price target of $88.90.

Insiders Place Their Bets

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $65.45, for a total transaction of $928,277.35. Following the transaction, the insider now directly owns 40,405 shares in the company, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the transaction, the insider now owns 14,035 shares in the company, valued at $779,503.90. The trade was a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,763 shares of company stock worth $4,843,795 in the last ninety days. 4.24% of the stock is owned by company insiders.

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.