Brevan Howard Capital Management LP Makes New $394,000 Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Brevan Howard Capital Management LP bought a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,213 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRON. Sterling Capital Management LLC lifted its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after purchasing an additional 503 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after acquiring an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Disc Medicine in the 4th quarter worth about $235,000. Bayesian Capital Management LP bought a new stake in shares of Disc Medicine in the 4th quarter worth about $285,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Disc Medicine by 8.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after acquiring an additional 396 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider William Jacob Savage sold 2,100 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the sale, the insider now directly owns 66,398 shares of the company's stock, valued at $3,331,187.66. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction 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 $2,213,491.90. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,290 shares of company stock worth $19,336,901 in the last three months. Corporate insiders own 4.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. 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. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research 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 company an "outperform" rating in a research report on Monday. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Disc Medicine presently has a consensus rating of "Buy" and a consensus target price of $98.80.

Disc Medicine Stock Performance

IRON stock traded down $0.62 during trading on Wednesday, reaching $45.73. The company had a trading volume of 218,935 shares, compared to its average volume of 349,566. The firm has a 50-day simple moving average of $46.54 and a 200-day simple moving average of $54.93. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -11.49 and a beta of 0.77. Disc Medicine, Inc. has a twelve month low of $30.65 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). Sell-side analysts expect 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.