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9,057 Shares in Disc Medicine, Inc. (NASDAQ:IRON) Bought by Y Intercept Hong Kong Ltd

Disc Medicine logo with Medical background

Y Intercept Hong Kong Ltd acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,057 shares of the company's stock, valued at approximately $445,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock worth $54,000 after acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine during the 2nd quarter valued at $129,000. Quest Partners LLC acquired a new stake in Disc Medicine in the third quarter valued at approximately $131,000. Finally, Quantbot Technologies LP acquired a new position in shares of Disc Medicine during the 3rd quarter valued at about $146,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRON has been the subject of a number of research analyst reports. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a "sector outperform" rating in a report on Tuesday, November 5th. Morgan Stanley upgraded 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 research note on Tuesday, November 5th. Jefferies Financial Group started 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. Raymond James raised Disc Medicine from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $87.50.

Read Our Latest Analysis on Disc Medicine

Disc Medicine Stock Performance

Disc Medicine stock traded down $1.18 during trading hours on Tuesday, hitting $65.00. 255,888 shares of the stock were exchanged, compared to its average volume of 347,195. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The business's 50-day moving average is $57.85 and its two-hundred day moving average is $50.15. The stock has a market capitalization of $1.93 billion, a P/E ratio of -16.33 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. On average, equities analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, insider William Jacob Savage sold 14,183 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the transaction, the insider now owns 40,405 shares of the company's stock, valued at approximately $2,644,507.25. This trade represents a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Richard White sold 1,957 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,836 shares of company stock worth $2,038,816. 4.24% of the stock is currently owned by corporate insiders.

Disc Medicine Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Disc Medicine (NASDAQ:IRON)

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