Nuveen Asset Management LLC Trims Stake in Disc Medicine, Inc. (NASDAQ:IRON)

Nuveen Asset Management LLC cut its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 47.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,121 shares of the company's stock after selling 44,683 shares during the quarter. Nuveen Asset Management LLC owned about 0.17% of Disc Medicine worth $3,178,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Millennium Management LLC purchased a new position in shares of Disc Medicine in the fourth quarter valued at $500,000. Lion Point Capital LP grew its position in shares of Disc Medicine by 37.7% in the fourth quarter. Lion Point Capital LP now owns 10,600 shares of the company's stock valued at $672,000 after purchasing an additional 2,900 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock valued at $77,170,000 after purchasing an additional 467,988 shares in the last quarter. Fiduciary Trust Co purchased a new position in shares of Disc Medicine in the fourth quarter valued at $257,000. Finally, Fred Alger Management LLC purchased a new position in shares of Disc Medicine in the fourth quarter valued at $747,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider William Jacob Savage sold 6,677 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08. Following the transaction, the insider now owns 59,721 shares in the company, valued at $2,988,438.84. The trade was a 10.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mona Ashiya sold 202,146 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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 in the company, valued at approximately $11,332,603.18. This represents a 49.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 349,510 shares of company stock valued at $18,936,535. Insiders own 4.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IRON shares. Cantor Fitzgerald lifted their price target 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 began coverage on Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. Scotiabank lifted their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. BMO Capital Markets lifted their price objective on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, Morgan Stanley reissued an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Disc Medicine currently has an average rating of "Buy" and a consensus price target of $98.80.

Disc Medicine Price Performance

IRON stock traded up $0.69 during mid-day trading on Thursday, hitting $48.01. 412,415 shares of the stock were exchanged, compared to its average volume of 347,312. The business has a fifty day moving average price of $44.74 and a 200 day moving average price of $53.80. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.06 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its 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). As a group, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

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.