Bank of New York Mellon Corp Buys 6,242 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Bank of New York Mellon Corp boosted its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,503 shares of the company's stock after acquiring an additional 6,242 shares during the period. Bank of New York Mellon Corp owned 0.18% of Disc Medicine worth $3,152,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its holdings in shares of Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after buying an additional 396 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Disc Medicine during the 4th quarter worth approximately $235,000. Vanguard Group Inc. boosted its holdings in shares of Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company's stock worth $67,727,000 after buying an additional 18,716 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Disc Medicine by 275.4% during the 4th quarter. JPMorgan Chase & Co. now owns 61,017 shares of the company's stock worth $3,868,000 after buying an additional 44,762 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings 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 in the last quarter. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IRON shares. HC Wainwright restated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. BMO Capital Markets upped their target price on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Truist Financial started coverage on Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 target price on the stock. Raymond James Financial started coverage on Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Disc Medicine in a research report on Thursday, July 3rd. They set an "overweight" rating and a $85.00 target price on the stock. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine presently has an average rating of "Buy" and an average price target of $95.73.

Insider Transactions at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 2,996 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $50.00, for a total transaction of $149,800.00. Following the sale, the insider directly owned 56,725 shares in the company, valued at $2,836,250. This represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jean M. Franchi sold 2,031 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the sale, the chief financial officer owned 63,499 shares in the company, valued at approximately $3,746,441. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,338 shares of company stock valued at $5,797,556 over the last three months. Corporate insiders own 4.24% of the company's stock.

Disc Medicine Stock Performance

Shares of IRON opened at $60.61 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $68.73. The firm has a market capitalization of $2.10 billion, a P/E ratio of -15.46 and a beta of 0.76. The business has a fifty day moving average of $52.69 and a 200 day moving average of $51.41.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released 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). As a group, sell-side analysts anticipate 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.

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