Intech Investment Management LLC Increases Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

Intech Investment Management LLC boosted its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 69.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,890 shares of the company’s stock after purchasing an additional 3,243 shares during the quarter. Intech Investment Management LLC’s holdings in Disc Medicine were worth $500,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Quest Partners LLC acquired a new position in Disc Medicine in the third quarter valued at $131,000. Quantbot Technologies LP purchased a new position in shares of Disc Medicine during the third quarter worth about $146,000. China Universal Asset Management Co. Ltd. increased its position in 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 valued at $400,000 after acquiring an additional 593 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Disc Medicine during the 3rd quarter valued at approximately $445,000. Finally, HighVista Strategies LLC acquired a new stake in Disc Medicine during the 3rd quarter worth approximately $470,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Buying and Selling at Disc Medicine

In related news, CFO Jean M. Franchi sold 3,136 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now owns 69,530 shares of the company’s stock, valued at approximately $3,794,947.40. This represents a 4.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John D. Quisel sold 13,012 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $61.95, for a total value of $806,093.40. Following the sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,464,426.75. This trade represents a 15.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,464 shares of company stock valued at $20,614,329 over the last quarter. Corporate insiders own 4.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IRON. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Wedbush restated an “outperform” rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Disc Medicine currently has an average rating of “Buy” and a consensus target price of $93.80.

Disc Medicine Stock Performance

Shares of IRON stock opened at $53.70 on Tuesday. The stock has a market cap of $1.86 billion, a PE ratio of -13.49 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. The stock has a fifty day moving average price of $55.16 and a 200 day moving average price of $56.13.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.08. As a group, equities research 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.