Disc Medicine, Inc. $IRON Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Disc Medicine, Inc. by 25%, holding 53,048 shares valued at approximately $2.8 million.
• Analysts have set varying price targets for Disc Medicine, with the average target at $108.73, reflecting a consensus rating of "Moderate Buy."
• Insider selling reported includes 70,000 shares sold by director Kevin Bitterman, reducing his ownership by 15.37% and bringing his remaining shares to approximately 385,549.

TD Asset Management Inc increased its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,048 shares of the company's stock after purchasing an additional 10,600 shares during the quarter. TD Asset Management Inc owned 0.15% of Disc Medicine worth $2,809,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after purchasing an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Disc Medicine by 13,428.6% during the first 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 during the last quarter. CWM LLC raised its holdings in Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company's stock worth $55,000 after purchasing an additional 711 shares during the last quarter. Avanza Fonder AB acquired a new position in Disc Medicine during the second quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Disc Medicine by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock worth $71,000 after purchasing an additional 181 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. National Bankshares set a $153.00 price objective on Disc Medicine in a report on Friday. Morgan Stanley lifted their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Raymond James Financial lifted their price objective on Disc Medicine from $89.00 to $108.00 and gave the stock a "strong-buy" rating in a report on Friday. HC Wainwright reissued a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. Finally, Cantor Fitzgerald boosted their price target on Disc Medicine from $132.00 to $153.00 and gave the stock an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $108.73.

Insider Buying and Selling at Disc Medicine

In related news, Director Kevin Bitterman sold 70,000 shares of the stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00. Following the completion of the transaction, the director owned 385,549 shares of the company's stock, valued at approximately $34,279,161.59. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 269,803 shares of company stock valued at $19,622,192 over the last ninety days. 3.64% of the stock is owned by corporate insiders.

Disc Medicine Stock Performance

Disc Medicine stock opened at $87.17 on Tuesday. The firm has a market capitalization of $3.03 billion, a P/E ratio of -19.50 and a beta of 0.80. The stock has a fifty day moving average price of $64.26 and a 200 day moving average price of $55.15. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $95.95. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released 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). Equities research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share 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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