Charles Schwab Investment Management Inc. Purchases 19,401 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Charles Schwab Investment Management Inc. boosted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,554 shares of the company’s stock after buying an additional 19,401 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Disc Medicine were worth $7,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRON. Amalgamated Bank boosted its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine in the second quarter worth about $129,000. Quest Partners LLC purchased a new stake in shares of Disc Medicine in the third quarter worth about $131,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after buying an additional 1,247 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Insider Activity at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the sale, the insider now directly 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 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 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 value of $126,480.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,836 shares of company stock valued at $2,038,816 over the last quarter. 4.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IRON shares. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a research note on Monday. Scotiabank raised their target price 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. Finally, Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $87.50.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $67.47 on Wednesday. The stock’s fifty day moving average is $56.26 and its 200 day moving average is $49.06. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market capitalization of $2.01 billion, a PE ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.15. Equities analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Disc Medicine Company 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.