Exome Asset Management LLC Sells 7,416 Shares of Disc Medicine, Inc. $IRON

Key Points

• Exome Asset Management LLC reduced its holdings in Disc Medicine, Inc. by 10.7%, now owning 61,656 shares valued at approximately $3.06 million.
• Several large investors, including RA Capital Management and Wellington Management Group, have significantly increased their positions in Disc Medicine during the first quarter.
• Disc Medicine reported a quarterly loss of ($1.58) earnings per share, which was lower than analysts' expectations of ($1.17), indicating challenges in meeting financial targets.

Exome Asset Management LLC trimmed its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,656 shares of the company's stock after selling 7,416 shares during the quarter. Disc Medicine comprises about 2.6% of Exome Asset Management LLC's investment portfolio, making the stock its 13th largest holding. Exome Asset Management LLC owned approximately 0.18% of Disc Medicine worth $3,061,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of IRON. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after buying an additional 948,094 shares during the period. RA Capital Management L.P. acquired a new position in Disc Medicine in the 1st quarter valued at $78,288,000. Vanguard Group Inc. raised its holdings in Disc Medicine by 22.2% in the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after acquiring an additional 236,800 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Disc Medicine by 62.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock valued at $77,170,000 after acquiring an additional 467,988 shares during the period. Finally, Siren L.L.C. acquired a new stake in shares of Disc Medicine during the 1st quarter worth $53,207,000. 83.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price 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 on the stock. Morgan Stanley raised their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, July 21st. Finally, HC Wainwright reissued a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $98.30.

Disc Medicine Trading Down 0.8%

Shares of NASDAQ IRON traded down $0.47 during midday trading on Friday, reaching $59.82. The stock had a trading volume of 178,558 shares, compared to its average volume of 393,034. The company's 50 day moving average price is $59.06 and its 200 day moving average price is $52.24. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -13.38 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 twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Activity

In other news, CEO John D. Quisel sold 34,800 shares of Disc Medicine stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total value of $1,925,484.00. Following the completion of the sale, the chief executive officer owned 161,828 shares in the company, valued at $8,953,943.24. The trade was a 17.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the sale, the chief financial officer owned 63,499 shares of the company's stock, valued at $3,746,441. This represents a 3.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,913 shares of company stock worth $7,856,571 in the last quarter. 3.64% of the stock is owned by corporate insiders.

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.