Nuveen LLC Invests $5.60 Million in Disc Medicine, Inc. $IRON

Key Points

• Nuveen LLC has acquired a new position in Disc Medicine, Inc., purchasing 112,717 shares worth approximately $5.6 million, indicating growing institutional interest in the company.
• Disc Medicine's recent earnings report revealed a loss per share of ($1.58), missing analysts' expectations, with forecasts suggesting a continued trend of negative EPS for the current fiscal year.
• Analysts have a positive outlook on Disc Medicine, with several target prices exceeding $85, leading to a consensus rating of "Buy" and a target price of $98.30.

Nuveen LLC acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 112,717 shares of the company's stock, valued at approximately $5,595,000. Nuveen LLC owned approximately 0.33% of Disc Medicine at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IRON. Amalgamated Bank lifted its stake in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after buying an additional 219 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the fourth quarter valued at $40,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $52,000 after buying an additional 266 shares in the last quarter. Fiduciary Trust Co bought a new position in shares of Disc Medicine in the fourth quarter valued at $257,000. Finally, Arizona State Retirement System lifted its stake in shares of Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock valued at $264,000 after buying an additional 590 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IRON. 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 note on Monday, August 18th. Raymond James Financial started coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target on the stock. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Thursday, July 3rd. Finally, BMO Capital Markets raised their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of "Buy" and an average price target of $98.30.

Disc Medicine Stock Performance

NASDAQ IRON traded down $0.01 during trading hours on Friday, reaching $59.65. 214,790 shares of the company were exchanged, compared to its average volume of 395,650. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73. The business's 50 day simple moving average is $57.60 and its 200-day simple moving average is $51.80. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.07 billion, a P/E ratio of -13.34 and a beta of 0.77.

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

Insider Buying and Selling at Disc Medicine

In other news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine 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 owned 63,499 shares in the company, valued at $3,746,441. This trade represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Bitterman sold 29,837 shares of Disc Medicine stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $60.97, for a total transaction of $1,819,161.89. Following the completion of the transaction, the director owned 647,002 shares of the company's stock, valued at $39,447,711.94. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,909 shares of company stock worth $8,006,371 over the last three months. Company 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.