Cubist Systematic Strategies LLC Makes New $1.28 Million Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Cubist Systematic Strategies LLC acquired a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,187 shares of the company's stock, valued at approximately $1,280,000. Cubist Systematic Strategies LLC owned 0.07% of Disc Medicine at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Disc Medicine during the 4th quarter worth $5,479,000. Barclays PLC raised its stake in Disc Medicine by 123.7% during the 3rd 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 last quarter. Raymond James Financial Inc. acquired a new position in Disc Medicine during the 4th quarter valued at $5,579,000. KLP Kapitalforvaltning AS acquired a new position in Disc Medicine during the 4th quarter valued at $235,000. Finally, Wells Fargo & Company MN raised its stake in Disc Medicine by 60.2% during the 4th quarter. Wells Fargo & Company MN now owns 20,778 shares of the company's stock valued at $1,317,000 after purchasing an additional 7,808 shares during the last quarter. 83.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pamela Stephenson sold 3,137 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the sale, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. This represents a 4.32% 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 owned by corporate insiders.

Disc Medicine Stock Performance

Shares of IRON stock traded up $1.60 during mid-day trading on Monday, reaching $49.69. The company's stock had a trading volume of 316,105 shares, compared to its average volume of 349,848. Disc Medicine, Inc. has a 1-year low of $30.65 and a 1-year high of $68.73. The company has a market cap of $1.72 billion, a P/E ratio of -12.48 and a beta of 0.77. The firm's 50-day moving average is $46.01 and its two-hundred day moving average is $55.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data 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). Sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IRON. BMO Capital Markets upped their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Stifel Nicolaus upped their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Cantor Fitzgerald upped their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. TD Cowen began coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $98.80.

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.