7,000 Shares in Disc Medicine, Inc. $IRON Acquired by Strs Ohio

Key Points

• Strs Ohio acquired 7,000 shares of Disc Medicine, Inc. (NASDAQ:IRON), valued at approximately $347,000, marking a significant investment during the 1st quarter.
• Insider selling was notable, with CEO John D. Quisel selling 34,800 shares and Director Kevin Bitterman selling 29,837 shares, reflecting a combined total of $3.7 million in transactions.
• Analysts have issued favorable ratings with target prices ranging from $86.00 to $118.00, indicating a general optimism towards Disc Medicine's performance in the market.

Strs Ohio purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,000 shares of the company's stock, valued at approximately $347,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine in the 4th quarter worth $40,000. Amalgamated Bank boosted its position in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after purchasing an additional 219 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after purchasing an additional 940 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Disc Medicine in the 4th quarter worth about $324,000. Finally, Ameriprise Financial Inc. acquired a new stake in Disc Medicine during the 4th quarter worth about $335,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Insider Buying and Selling

In related news, CEO John D. Quisel sold 34,800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the completion of the sale, the chief executive officer owned 161,828 shares in the company, valued at $8,953,943.24. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Bitterman sold 29,837 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.97, for a total value of $1,819,161.89. Following the completion of the sale, the director directly owned 647,002 shares in the company, valued at $39,447,711.94. This trade represents a 4.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,913 shares of company stock valued at $7,752,051. Insiders own 3.64% of the company's stock.

Analysts Set New Price Targets

IRON has been the subject of several recent analyst reports. Raymond James Financial began coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price for the company. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, July 21st. Truist Financial started coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a "buy" rating and a $86.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Finally, Morgan Stanley upped their price target on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $98.30.

Disc Medicine Price Performance

NASDAQ IRON opened at $62.16 on Wednesday. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73. The company has a fifty day simple moving average of $59.90 and a 200 day simple moving average of $52.54. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.16 billion, a P/E ratio of -13.91 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, sell-side analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.