Pictet Asset Management Holding SA Sells 28,066 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Pictet Asset Management Holding SA reduced its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,482 shares of the company's stock after selling 28,066 shares during the quarter. Pictet Asset Management Holding SA owned 0.44% of Disc Medicine worth $8,209,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in Disc Medicine by 8.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock valued at $308,000 after acquiring an additional 396 shares in the last quarter. China Universal Asset Management Co. Ltd. raised 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 purchasing an additional 593 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company's stock worth $1,428,000 after purchasing an additional 771 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Disc Medicine by 5.7% during the fourth quarter. Rhumbline Advisers now owns 29,036 shares of the company's stock valued at $1,841,000 after purchasing an additional 1,553 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Disc Medicine by 18.0% during the third quarter. MetLife Investment Management LLC now owns 11,377 shares of the company's stock valued at $559,000 after buying an additional 1,735 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Down 4.9 %

Disc Medicine stock traded down $2.02 during trading on Monday, reaching $39.20. The company had a trading volume of 1,187,502 shares, compared to its average volume of 338,982. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.85 and a beta of 0.77. The firm's 50-day simple moving average is $53.11 and its 200 day simple moving average is $56.09. Disc Medicine, Inc. has a 52 week low of $25.64 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.08. On average, analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Rahul Khara sold 7,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.54, for a total transaction of $416,550.00. Following the completion of the sale, the insider now owns 14,035 shares in the company, valued at approximately $779,503.90. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of Disc Medicine stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the sale, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,690 shares of company stock worth $19,648,094. Company insiders own 4.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IRON shares. Wedbush reissued an "outperform" rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley reissued an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Scotiabank boosted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Stifel Nicolaus increased their price target on Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $93.80.

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.