Millennium Management LLC Takes Position in Disc Medicine, Inc. (NASDAQ:IRON)

Millennium Management LLC bought a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,879 shares of the company's stock, valued at approximately $500,000.

A number of other hedge funds also recently bought and sold shares of IRON. Sterling Capital Management LLC increased its holdings in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after buying an additional 503 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Disc Medicine during the fourth quarter valued at $235,000. Fiduciary Trust Co bought a new stake in Disc Medicine in the fourth quarter worth $257,000. Finally, Bayesian Capital Management LP purchased a new stake in Disc Medicine in the fourth quarter worth $285,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded up $1.85 during mid-day trading on Thursday, hitting $52.71. The company had a trading volume of 396,507 shares, compared to its average volume of 349,440. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73. The firm has a market cap of $1.83 billion, a P/E ratio of -13.24 and a beta of 0.73. The business's 50-day simple moving average is $45.20 and its 200-day simple moving average is $53.48.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, sell-side analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director Mona Ashiya sold 10,011 shares of Disc Medicine stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.00, for a total value of $540,594.00. Following the completion of the transaction, the director now directly owns 187,297 shares of the company's stock, valued at $10,114,038. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 6,677 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08. Following the sale, the insider now directly owns 59,721 shares in the company, valued at $2,988,438.84. The trade was a 10.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,178 shares of company stock worth $3,582,568. 4.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IRON has been the subject of several recent research reports. Scotiabank raised their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. BMO Capital Markets boosted their price objective on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Cantor Fitzgerald upped their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Raymond James began coverage on shares of Disc Medicine in a report on Wednesday. They set a "strong-buy" rating and a $89.00 price objective on the stock. Finally, Morgan Stanley reissued an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine has a consensus rating of "Buy" and an average target price of $96.70.

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.