MetLife Investment Management LLC lifted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON – Free Report) by 18.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,377 shares of the company’s stock after acquiring an additional 1,735 shares during the period. MetLife Investment Management LLC’s holdings in Disc Medicine were worth $559,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Disc Medicine in the third quarter valued at $146,000. The Manufacturers Life Insurance Company grew its stake in shares of Disc Medicine by 2.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after buying an additional 771 shares during the period. Charles Schwab Investment Management Inc. increased its position in Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after buying an additional 19,401 shares in the last quarter. Intech Investment Management LLC acquired a new position in Disc Medicine during the 3rd quarter worth approximately $228,000. Finally, Quest Partners LLC bought a new position in Disc Medicine in the third quarter worth approximately $131,000. 83.70% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
IRON has been the subject of several recent research reports. Wedbush restated an “outperform” rating and set a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Scotiabank boosted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $85.80.
Insider Buying and Selling
In other news, insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,644,507.25. This trade represents a 25.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders have sold a total of 32,836 shares of company stock worth $2,038,816 in the last 90 days. 4.24% of the stock is owned by company insiders.
Disc Medicine Stock Performance
NASDAQ:IRON opened at $64.82 on Friday. The firm has a 50-day moving average price of $55.65 and a two-hundred day moving average price of $48.50. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -16.29 and a beta of 0.76. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60.
Disc Medicine (NASDAQ:IRON – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.
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.
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