Cubist Systematic Strategies LLC Acquires Shares of 20,187 Disc Medicine, Inc. (NASDAQ:IRON)

Cubist Systematic Strategies LLC purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,187 shares of the company's stock, valued at approximately $1,280,000. Cubist Systematic Strategies LLC owned 0.07% of Disc Medicine as of its most recent SEC filing.

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

Disc Medicine Price Performance

Shares of IRON traded up $1.00 during midday trading on Friday, reaching $48.09. 442,342 shares of the stock were exchanged, compared to its average volume of 350,089. The business's 50-day moving average price is $46.10 and its 200 day moving average price is $54.88. Disc Medicine, Inc. has a twelve month low of $30.65 and a twelve month high of $68.73. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.08 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted 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). As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In related news, Director Mona Ashiya sold 5,738 shares of the firm'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 transaction, the director now owns 186,541 shares of the company's stock, valued at $10,093,733.51. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William Jacob Savage sold 2,100 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. This represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 356,290 shares of company stock worth $19,336,901. Corporate insiders own 4.24% of the company's stock.

Analyst Upgrades and Downgrades

IRON has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. BMO Capital Markets increased their price objective on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Wedbush restated an "outperform" rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. HC Wainwright restated a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Scotiabank raised their price target 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 equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $98.80.

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.