Point72 Asset Management L.P. Sells 742,423 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Point72 Asset Management L.P. lessened its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 98.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,444 shares of the company's stock after selling 742,423 shares during the period. Point72 Asset Management L.P.'s holdings in Disc Medicine were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Sterling Capital Management LLC raised its position in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after purchasing an additional 503 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after purchasing an additional 266 shares during the period. KLP Kapitalforvaltning AS bought a new position in Disc Medicine in the 4th quarter worth approximately $235,000. Fiduciary Trust Co acquired a new stake in Disc Medicine in the fourth quarter worth about $257,000. Finally, Bayesian Capital Management LP acquired a new stake in Disc Medicine in the fourth quarter worth approximately $285,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares of the company's stock, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mona Ashiya sold 5,738 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the sale, the director now owns 186,541 shares of the company's stock, valued at $10,093,733.51. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 349,510 shares of company stock worth $18,936,535. Corporate insiders own 4.24% of the company's stock.

Disc Medicine Stock Up 0.4%

Shares of NASDAQ:IRON traded up $0.18 during trading on Wednesday, reaching $46.06. 91,066 shares of the company traded hands, compared to its average volume of 346,391. The firm has a market cap of $1.60 billion, a P/E ratio of -11.52 and a beta of 0.77. Disc Medicine, Inc. has a 1-year low of $30.82 and a 1-year high of $68.73. The firm has a fifty day simple moving average of $45.47 and a 200 day simple moving average of $54.46.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen began coverage on Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. BMO Capital Markets boosted their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Morgan Stanley reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank upped their price target on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. Finally, Cantor Fitzgerald raised their price objective on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Disc Medicine currently has a consensus rating of "Buy" and a consensus price target of $98.80.

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.