Swiss National Bank Lowers Position in Disc Medicine, Inc. (NASDAQ:IRON)

Swiss National Bank decreased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,200 shares of the company’s stock after selling 2,600 shares during the period. Swiss National Bank’s holdings in Disc Medicine were worth $2,041,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Quest Partners LLC purchased a new stake in Disc Medicine in the 3rd quarter valued at about $131,000. Quantbot Technologies LP bought a new position in shares of Disc Medicine in the third quarter valued at approximately $146,000. Intech Investment Management LLC purchased a new stake in shares of Disc Medicine during the third quarter valued at approximately $228,000. China Universal Asset Management Co. Ltd. lifted its holdings in Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after acquiring an additional 593 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in Disc Medicine in the fourth quarter worth $486,000. Institutional investors own 83.70% of the company’s stock.

Insider Buying and Selling

In related news, Director Mona Ashiya sold 5,738 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the transaction, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the sale, the insider now owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This trade represents a 34.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 382,202 shares of company stock valued at $20,924,812. Company insiders own 4.24% of the company’s stock.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $52.36 on Friday. The business’s fifty day moving average is $54.64 and its 200 day moving average is $56.10. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -13.16 and a beta of 0.73. Disc Medicine, Inc. has a 52-week low of $25.60 and a 52-week high of $68.73.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results 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. Equities analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IRON has been the subject of several research analyst reports. TD Cowen started coverage on Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Stifel Nicolaus lifted their price target 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, Scotiabank upped their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine has an average rating of “Buy” and an average target price of $93.80.

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.