D. E. Shaw & Co. Inc. Acquires New Position in Disc Medicine, Inc. (NASDAQ:IRON)

D. E. Shaw & Co. Inc. bought a new position in Disc Medicine, Inc. (NASDAQ:IRON) in the fourth quarter, Holdings Channel reports. The institutional investor bought 81,190 shares of the company’s stock, valued at approximately $5,147,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Disc Medicine by 123.7% during the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after purchasing an additional 22,202 shares during the period. JPMorgan Chase & Co. boosted its position in Disc Medicine by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after buying an additional 2,257 shares during the period. SG Americas Securities LLC increased its position in shares of Disc Medicine by 66.0% in the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock valued at $512,000 after acquiring an additional 3,212 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Disc Medicine by 10.4% in the fourth 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. Finally, Bleakley Financial Group LLC bought a new position in shares of Disc Medicine during the fourth quarter valued at about $486,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Insider Transactions at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares in the company, valued at $3,331,187.66. This represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jean M. Franchi sold 3,136 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 value of $171,162.88. Following the completion of the transaction, the chief financial officer now directly owns 69,530 shares in the company, valued at approximately $3,794,947.40. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 356,290 shares of company stock worth $19,336,901. 4.24% of the stock is currently owned by insiders.

Disc Medicine Stock Up 2.1%

Shares of Disc Medicine stock opened at $48.09 on Friday. Disc Medicine, Inc. has a twelve month low of $30.65 and a twelve month high of $68.73. The business has a 50-day moving average price of $46.10 and a 200-day moving average price of $54.88. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -12.08 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, equities analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the subject of several research analyst reports. Scotiabank increased their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. TD Cowen began coverage on shares of Disc Medicine in a research report on Thursday, February 27th. They set 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 report on Friday, January 24th. Finally, BMO Capital Markets raised their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $98.80.

About Disc Medicine

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.