Exome Asset Management LLC Has $3.06 Million Stock Holdings in 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 lowered its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,656 shares of the company's stock after selling 7,416 shares during the quarter. Disc Medicine makes up approximately 2.6% of Exome Asset Management LLC's holdings, making the stock its 13th biggest holding. Exome Asset Management LLC owned approximately 0.18% of Disc Medicine worth $3,061,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine during the 4th quarter worth about $40,000. Amalgamated Bank increased its position in shares of Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after purchasing an additional 219 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Disc Medicine by 13,428.6% during the 1st 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 in the last quarter. Finally, Fiduciary Trust Co acquired a new stake in shares of Disc Medicine during the 4th quarter worth about $257,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Insider Transactions at Disc Medicine

In other news, CEO John D. Quisel sold 34,800 shares of Disc Medicine stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $61.03, for a total transaction of $139,575.61. Following the sale, the director owned 590,621 shares of the company's stock, valued at approximately $36,045,599.63. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,913 shares of company stock worth $7,856,571 in the last quarter. 3.64% of the stock is owned by company insiders.

Disc Medicine Price Performance

IRON traded down $0.47 during midday trading on Friday, hitting $59.82. The company had a trading volume of 178,558 shares, compared to its average volume of 273,412. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $68.73. The firm's 50-day simple moving average is $59.16 and its 200-day simple moving average is $52.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. The company has a market capitalization of $2.08 billion, a PE ratio of -13.38 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly 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 predict that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.