Arizona State Retirement System Has $300,000 Stock Holdings in Disc Medicine, Inc. (NASDAQ:IRON)

Arizona State Retirement System lowered its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,725 shares of the company’s stock after selling 396 shares during the period. Arizona State Retirement System’s holdings in Disc Medicine were worth $300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new position in shares of Disc Medicine in the 3rd quarter valued at $131,000. Quantbot Technologies LP bought a new position in Disc Medicine in the third quarter valued at about $146,000. Intech Investment Management LLC bought a new stake in shares of Disc Medicine during the third quarter worth about $228,000. China Universal Asset Management Co. Ltd. increased its stake 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 buying an additional 593 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Disc Medicine in the third quarter valued at approximately $445,000. Institutional investors own 83.70% of the company’s stock.

Insider Buying and Selling at Disc Medicine

In other news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This trade represents a 34.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John D. Quisel sold 19,820 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total value of $1,251,434.80. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,408 shares of company stock valued at $20,027,286. Corporate insiders own 4.24% of the company’s stock.

Disc Medicine Stock Performance

Shares of IRON stock opened at $51.02 on Friday. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $68.86. The stock has a 50 day simple moving average of $56.16 and a two-hundred day simple moving average of $55.97. The company has a market cap of $1.76 billion, a P/E ratio of -12.82 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.08. On average, research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRON. HC Wainwright restated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank raised their target price on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. TD Cowen initiated coverage on Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating for the company. Finally, Stifel Nicolaus upped their target price on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $89.10.

Disc Medicine 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.