Ameriprise Financial Inc. Invests $335,000 in Disc Medicine, Inc. (NASDAQ:IRON)

Ameriprise Financial Inc. purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,278 shares of the company's stock, valued at approximately $335,000.

Several other large investors have also modified their holdings of IRON. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after purchasing an additional 503 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Disc Medicine by 47.6% during the fourth 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 period. KLP Kapitalforvaltning AS acquired a new stake in Disc Medicine during the fourth quarter worth about $235,000. Teacher Retirement System of Texas raised its stake in Disc Medicine by 8.9% during the fourth 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 period. Finally, Virtu Financial LLC acquired a new stake in Disc Medicine during the fourth quarter worth about $309,000. Institutional investors own 83.70% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on IRON. Morgan Stanley reiterated an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Cantor Fitzgerald raised their price target 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 assumed coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a "buy" rating on the stock. Scotiabank raised their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets raised their price target 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. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $98.80.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 6,677 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $50.04, for a total transaction of $334,117.08. Following the completion of the sale, the insider now directly owns 59,721 shares in the company, valued at approximately $2,988,438.84. This trade represents a 10.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mona Ashiya sold 202,146 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the sale, the director now owns 208,742 shares of the company's stock, valued at $11,332,603.18. The trade was a 49.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 349,510 shares of company stock worth $18,936,535. Corporate insiders own 4.24% of the company's stock.

Disc Medicine Price Performance

Disc Medicine stock opened at $48.01 on Friday. The firm has a 50 day simple moving average of $44.74 and a 200-day simple moving average of $53.80. The stock has a market capitalization of $1.66 billion, a PE ratio of -12.06 and a beta of 0.73. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data 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 forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal 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.

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