Northern Trust Corp Increases Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

Northern Trust Corp boosted its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,017 shares of the company's stock after acquiring an additional 16,299 shares during the quarter. Northern Trust Corp owned 0.63% of Disc Medicine worth $11,857,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in shares of Disc Medicine in the 4th quarter valued at about $5,479,000. Barclays PLC boosted its holdings in Disc Medicine by 123.7% in the third 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Disc Medicine in the fourth quarter valued at approximately $5,579,000. KLP Kapitalforvaltning AS acquired a new stake in Disc Medicine during the fourth quarter worth approximately $235,000. Finally, Wells Fargo & Company MN lifted its position in shares of Disc Medicine by 60.2% during the 4th quarter. Wells Fargo & Company MN now owns 20,778 shares of the company's stock worth $1,317,000 after buying an additional 7,808 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Price Performance

Shares of IRON stock traded up $0.39 during mid-day trading on Tuesday, hitting $50.08. The stock had a trading volume of 310,725 shares, compared to its average volume of 349,692. The firm has a market cap of $1.73 billion, a PE ratio of -12.58 and a beta of 0.77. The company's 50-day simple moving average is $46.01 and its 200-day simple moving average is $55.04. Disc Medicine, Inc. has a fifty-two week low of $30.65 and a fifty-two week high of $68.73.

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

Wall Street Analysts Forecast Growth

IRON has been the subject of several research reports. HC Wainwright reissued a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. 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 raised their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Stifel Nicolaus lifted their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a report on Friday, January 24th. Finally, Scotiabank increased their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock 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. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $98.80.

Insider Transactions at Disc Medicine

In related news, insider William Jacob Savage sold 2,100 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $50.17, for a total transaction of $105,357.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mona Ashiya sold 83,182 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $54.45, for a total transaction of $4,529,259.90. Following the sale, the director now owns 194,209 shares in the company, valued at $10,574,680.05. The trade was a 29.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 342,833 shares of company stock valued at $18,602,418. Corporate insiders own 4.24% of the company's stock.

Disc Medicine 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.