Algert Global LLC Buys 9,397 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Algert Global LLC lifted its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 135.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,337 shares of the company's stock after purchasing an additional 9,397 shares during the period. Algert Global LLC owned 0.05% of Disc Medicine worth $1,036,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IRON. FMR LLC lifted its stake in shares of Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company's stock valued at $118,320,000 after acquiring an additional 1,459,434 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company's stock valued at $88,421,000 after purchasing an additional 262,690 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Disc Medicine in the 4th quarter valued at $5,579,000. Renaissance Technologies LLC acquired a new stake in shares of Disc Medicine during the fourth quarter worth $5,479,000. Finally, Dimensional Fund Advisors LP increased its holdings in Disc Medicine by 160.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 139,720 shares of the company's stock valued at $8,856,000 after purchasing an additional 86,154 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IRON shares. Scotiabank increased their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. Morgan Stanley restated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. TD Cowen started coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a "buy" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald boosted their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $93.80.

Disc Medicine Stock Performance

Shares of IRON stock opened at $44.24 on Friday. Disc Medicine, Inc. has a 52 week low of $30.65 and a 52 week high of $68.73. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.12 and a beta of 0.77. The company has a 50-day simple moving average of $46.93 and a 200 day simple moving average of $54.92.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business'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 $87,873.80. Following the completion of the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at approximately $2,213,491.90. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John D. Quisel sold 5,574 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $304,228.92. Following the transaction, the chief executive officer now owns 154,828 shares in the company, 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. Insiders sold 356,290 shares of company stock worth $19,336,901 in the last quarter. 4.24% of the stock is currently owned by corporate insiders.

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.

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