88,002 Shares in Disc Medicine, Inc. (NASDAQ:IRON) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 88,002 shares of the company's stock, valued at approximately $5,579,000. Raymond James Financial Inc. owned about 0.30% of Disc Medicine at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IRON. Geode Capital Management LLC increased its holdings in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company's stock valued at $23,333,000 after purchasing an additional 70,983 shares during the last quarter. State Street Corp grew its stake in shares of 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. Verition Fund Management LLC purchased a new stake in shares of Disc Medicine in the 3rd quarter valued at $589,000. Charles Schwab Investment Management Inc. lifted its stake in Disc Medicine by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company's stock worth $7,890,000 after acquiring an additional 19,401 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after acquiring an additional 22,202 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

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Disc Medicine Stock Down 0.2 %

IRON traded down $0.11 on Friday, reaching $52.36. The company's stock had a trading volume of 427,241 shares, compared to its average volume of 363,706. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $68.73. The stock has a 50 day moving average of $54.75 and a two-hundred day moving average of $56.10. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -13.16 and a beta of 0.73.

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

Insider Buying and Selling

In related news, insider Rahul Khara sold 7,500 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the transaction, the insider now owns 14,035 shares of the company's stock, valued at $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mona Ashiya sold 5,738 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 186,541 shares of the company's stock, valued at approximately $10,093,733.51. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 382,202 shares of company stock valued at $20,924,812 over the last quarter. 4.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on IRON. Scotiabank raised their price objective 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. Cantor Fitzgerald raised their price target on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Morgan Stanley reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Finally, TD Cowen initiated coverage on Disc Medicine in a report on Thursday, February 27th. They set a "buy" rating on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $93.80.

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.