Disc Medicine, Inc. $IRON Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. sold 41,059 shares of Disc Medicine, reducing its stake by 23.9%, and now holds 130,751 shares valued at approximately $6.49 million.
• Disc Medicine received favorable ratings from multiple analysts, with price targets ranging from $86.00 to $118.00; the current consensus rating on the stock is "Buy."
• Institutional investors hold 83.70% of Disc Medicine's shares, indicating strong support from large investment firms.

Goldman Sachs Group Inc. reduced its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,751 shares of the company's stock after selling 41,059 shares during the period. Goldman Sachs Group Inc. owned 0.38% of Disc Medicine worth $6,490,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in 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 acquiring an additional 948,094 shares during the last quarter. RA Capital Management L.P. acquired a new position in Disc Medicine in the first quarter valued at approximately $78,288,000. Vanguard Group Inc. lifted its holdings in Disc Medicine by 22.2% in the first 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 during the last quarter. Siren L.L.C. acquired a new position in Disc Medicine in the first quarter valued at approximately $53,207,000. Finally, Woodline Partners LP lifted its holdings in Disc Medicine by 26.6% in the first quarter. Woodline Partners LP now owns 502,230 shares of the company's stock valued at $24,931,000 after acquiring an additional 105,630 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on IRON. Morgan Stanley upped their price objective on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 18th. HC Wainwright reissued a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Truist Financial initiated coverage on Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 target price on the stock. Finally, Raymond James Financial initiated coverage on Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat, Disc Medicine presently has an average rating of "Buy" and an average price target of $98.30.

Insider Buying and Selling

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares of the company's stock, valued at approximately $3,746,441. This trade represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 161,828 shares of the company's stock, valued at approximately $8,953,943.24. This trade represents a 17.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,913 shares of company stock valued at $7,752,051 over the last ninety days. Corporate insiders own 3.64% of the company's stock.

Disc Medicine Stock Performance

NASDAQ IRON traded down $0.48 during trading hours on Friday, hitting $62.15. 139,175 shares of the stock were exchanged, compared to its average volume of 391,228. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -13.90 and a beta of 0.77. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73. The stock has a 50-day moving average of $59.63 and a 200 day moving average of $52.45. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, equities research analysts forecast 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.