State Street Corp Boosts Holdings in Disc Medicine, Inc. (NASDAQ:IRON)

State Street Corp raised its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 827,910 shares of the company's stock after acquiring an additional 235,115 shares during the quarter. State Street Corp owned approximately 2.78% of Disc Medicine worth $40,683,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IRON. Amalgamated Bank raised its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock valued at $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $54,000 after buying an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Disc Medicine during the second quarter valued at approximately $129,000. Quest Partners LLC bought a new stake in shares of Disc Medicine during the third quarter valued at approximately $131,000. Finally, Quantbot Technologies LP purchased a new position in shares of Disc Medicine in the third quarter worth $146,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Stock Up 2.5 %

Shares of Disc Medicine stock traded up $1.55 during trading on Friday, reaching $64.50. The company's stock had a trading volume of 441,616 shares, compared to its average volume of 347,150. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a 50-day simple moving average of $58.83 and a two-hundred day simple moving average of $50.53. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -16.21 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, analysts anticipate that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Insider Buying and Selling

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the business's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Jacob Savage sold 14,183 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the transaction, the insider now owns 40,405 shares of the company's stock, valued at approximately $2,644,507.25. The trade was a 25.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,627 shares of company stock worth $2,883,150 in the last three months. Corporate insiders own 4.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRON. Wedbush restated an "outperform" rating and set a $83.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. HC Wainwright restated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a report on Monday, December 9th. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective on the stock. Morgan Stanley raised shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a report on Tuesday, November 5th. Finally, Scotiabank boosted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Disc Medicine has a consensus rating of "Buy" and an average target price 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.