Jane Street Group LLC Sells 7,680 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Jane Street Group LLC cut its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 23.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,731 shares of the company’s stock after selling 7,680 shares during the quarter. Jane Street Group LLC’s holdings in Disc Medicine were worth $1,215,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRON. Amalgamated Bank increased its holdings in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 acquiring an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Disc Medicine during the 2nd quarter valued at approximately $129,000. Quest Partners LLC bought a new position in Disc Medicine in the 3rd quarter worth approximately $131,000. Finally, Quantbot Technologies LP purchased a new position in shares of Disc Medicine in the third quarter worth $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $64.12 on Monday. The firm has a market capitalization of $1.91 billion, a PE ratio of -16.11 and a beta of 0.76. The business has a 50 day simple moving average of $60.41 and a two-hundred day simple moving average of $51.54. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60.

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

Analyst Ratings Changes

Several analysts have commented on IRON shares. Stifel Nicolaus boosted their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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 report on Monday, November 4th. Scotiabank upped 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. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday, November 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a report on Monday, December 9th. 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 company has a consensus rating of “Buy” and an average price target of $87.50.

Insider Activity

In related news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jacob Savage sold 14,183 shares of the 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 completion of the transaction, the insider now directly owns 40,405 shares in the company, valued at approximately $2,644,507.25. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,447 shares of company stock valued at $4,134,585. 4.24% of the stock is currently owned by company insiders.

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.