Bank of America Corp DE Sells 34,747 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Bank of America Corp DE lowered its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 49.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,345 shares of the company's stock after selling 34,747 shares during the quarter. Bank of America Corp DE owned 0.12% of Disc Medicine worth $2,241,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 266 shares during the period. Teacher Retirement System of Texas raised its position in shares of 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 purchasing an additional 396 shares during the period. Sterling Capital Management LLC raised 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 period. China Universal Asset Management Co. Ltd. raised its position in shares of Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock worth $400,000 after purchasing an additional 593 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Disc Medicine by 6.6% during the fourth quarter. MetLife Investment Management LLC now owns 12,132 shares of the company's stock worth $769,000 after purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 83.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an "overweight" rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Friday, March 7th. Cantor Fitzgerald lifted their target price on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. TD Cowen assumed coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a "buy" rating on the stock. Scotiabank lifted their target price on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets lifted their target price on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $98.80.

Insider Transactions at Disc Medicine

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

Disc Medicine Price Performance

IRON stock traded down $0.08 during mid-day trading on Wednesday, reaching $47.32. The company had a trading volume of 284,914 shares, compared to its average volume of 347,199. The stock has a 50 day simple moving average of $44.88 and a two-hundred day simple moving average of $53.91. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -11.89 and a beta of 0.77. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 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 for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). On average, equities 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.