Disc Medicine, Inc. $IRON Stake Reduced by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Disc Medicine, Inc. by 5.4%, owning approximately 0.24% of the company, valued at around $4.1 million.
• Disc Medicine's stock has received positive ratings from multiple analysts, with an average rating of Buy and a consensus target price of $98.30.
• Insider trading activity included significant share sales by both Director Kevin Bitterman and CEO John D. Quisel, indicating a decrease in their positions by 0.39% and 17.70%, respectively.

Raymond James Financial Inc. trimmed its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,276 shares of the company's stock after selling 4,726 shares during the quarter. Raymond James Financial Inc. owned approximately 0.24% of Disc Medicine worth $4,134,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after buying an additional 236,800 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after buying an additional 467,988 shares during the period. Woodline Partners LP boosted its stake in shares of Disc Medicine by 5.2% during the fourth quarter. Woodline Partners LP now owns 396,600 shares of the company's stock worth $25,144,000 after buying an additional 19,538 shares during the period. MPM Bioimpact LLC boosted its stake in shares of Disc Medicine by 11.1% during the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company's stock worth $21,962,000 after buying an additional 34,640 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Disc Medicine by 18.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 194,725 shares of the company's stock worth $9,666,000 after purchasing an additional 29,653 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Price Performance

IRON stock traded up $0.53 during trading on Wednesday, hitting $60.87. The stock had a trading volume of 177,713 shares, compared to its average volume of 394,816. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -13.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. Disc Medicine, Inc. has a 1-year low of $30.82 and a 1-year high of $68.73. The company's 50 day moving average price is $58.81 and its two-hundred day moving average price is $52.15.

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). On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the transaction, the chief financial officer directly owned 63,499 shares of the company's stock, valued at $3,746,441. This represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 161,828 shares in the company, valued at $8,953,943.24. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 132,913 shares of company stock valued at $7,856,571. Company insiders own 3.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 target price for the company. Raymond James Financial assumed coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Thursday, July 3rd. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. Finally, Morgan Stanley lifted their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $98.30.

Disc Medicine Company 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.