Disc Medicine, Inc. (NASDAQ:IRON) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,482 shares of the company's stock after selling 28,066 shares during the period. Pictet Asset Management Holding SA owned about 0.44% of Disc Medicine worth $8,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings 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 purchasing an additional 303,954 shares during the period. State Street Corp lifted its holdings in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company's stock worth $40,683,000 after buying an additional 235,115 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Disc Medicine in the 4th quarter worth $5,579,000. Wellington Management Group LLP grew its position in shares of Disc Medicine by 4.8% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 valued at $23,333,000 after buying an additional 70,983 shares during the period. 83.70% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on IRON shares. Scotiabank increased their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Morgan Stanley reissued an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. Wedbush reissued an "outperform" rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, TD Cowen started coverage on Disc Medicine in a research report on Thursday, February 27th. They set a "buy" rating on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $93.80.

Insiders Place Their Bets

In related news, Director Mona Ashiya sold 5,738 shares of the 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 transaction, the director now owns 186,541 shares in the company, valued at approximately $10,093,733.51. This represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total transaction of $416,550.00. Following the sale, the insider now owns 14,035 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 361,690 shares of company stock valued at $19,648,094. Insiders own 4.24% of the company's stock.

Disc Medicine Price Performance

Disc Medicine stock traded down $4.55 during midday trading on Friday, reaching $41.22. The company's stock had a trading volume of 773,882 shares, compared to its average volume of 336,577. The stock has a market capitalization of $1.42 billion, a P/E ratio of -10.36 and a beta of 0.73. The stock's 50-day simple moving average is $53.45 and its 200-day simple moving average is $56.04. 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 announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

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.