Northern Trust Corp Purchases 21,796 Shares of Disc Medicine, Inc. $IRON

Key Points

• Northern Trust Corp increased its stake in Disc Medicine, Inc. by 11.7%, owning a total of 208,813 shares worth approximately $10.37 million after acquiring an additional 21,796 shares in Q1.
• Disc Medicine received several positive ratings from analysts, with BMO Capital Markets raising its price target from $112 to $120, while the stock has an average consensus rating of "Buy".
• Disc Medicine reported a quarterly loss of ($1.58) per share, which was below analysts' expectations of ($1.17), with forecasts suggesting a further annual loss of -$4.07 EPS.

Northern Trust Corp grew its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,813 shares of the company's stock after acquiring an additional 21,796 shares during the quarter. Northern Trust Corp owned 0.60% of Disc Medicine worth $10,365,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Amalgamated Bank lifted its position in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after acquiring an additional 219 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after acquiring an additional 266 shares during the period. Arizona State Retirement System lifted its position in shares of Disc Medicine by 12.5% in the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after acquiring an additional 590 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Disc Medicine by 9.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,934 shares of the company's stock worth $344,000 after acquiring an additional 624 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Disc Medicine in the 4th quarter worth approximately $40,000. Institutional investors own 83.70% of the company's stock.

Analyst Upgrades and Downgrades

IRON has been the subject of a number of research reports. BMO Capital Markets raised their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Truist Financial assumed coverage on Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 target price for the company. 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. Raymond James Financial assumed coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price for the company. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, July 21st. One equities research 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, the stock presently has an average rating of "Buy" and a consensus target price of $98.30.

Disc Medicine Trading Up 0.9%

IRON stock opened at $60.76 on Friday. The business has a fifty day moving average price of $58.45 and a 200 day moving average price of $52.07. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $68.73. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -13.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11.

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

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 29,837 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.97, for a total value of $1,819,161.89. Following the transaction, the director directly owned 647,002 shares in the company, valued at approximately $39,447,711.94. This trade represents a 4.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction on 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 owned 63,499 shares in the company, valued at $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,913 shares of company stock worth $7,856,571. Insiders own 3.64% of the company's stock.

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.

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