Charles Schwab Investment Management Inc. Grows Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

Charles Schwab Investment Management Inc. increased its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,072 shares of the company’s stock after buying an additional 4,518 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Disc Medicine were worth $10,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after buying an additional 593 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 771 shares in the last quarter. Rhumbline Advisers lifted its holdings in Disc Medicine by 5.7% in the 4th quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock valued at $1,841,000 after purchasing an additional 1,553 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Disc Medicine by 18.0% in the 3rd quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock valued at $559,000 after purchasing an additional 1,735 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Disc Medicine by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after purchasing an additional 2,257 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. TD Cowen assumed coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating on the stock. Wedbush restated an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Cantor Fitzgerald upped their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $93.80.

Insider Buying and Selling

In related news, Director Mona Ashiya sold 10,011 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the completion of the sale, the director now owns 187,297 shares of the company’s stock, valued at approximately $10,114,038. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John D. Quisel sold 5,574 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the sale, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at approximately $8,450,512.24. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,284 shares of company stock valued at $21,865,764. 4.24% of the stock is currently owned by corporate insiders.

Disc Medicine Stock Performance

IRON opened at $52.24 on Friday. The firm has a 50 day moving average price of $55.26 and a 200 day moving average price of $56.06. The company has a market cap of $1.81 billion, a PE ratio of -13.13 and a beta of 0.73. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $68.73.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. On average, sell-side analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share 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.