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

Point72 Asset Management L.P. lessened its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 98.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its stake 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 acquiring an additional 503 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake 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 valued at $52,000 after acquiring an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Disc Medicine during the 4th quarter valued at approximately $235,000. Fiduciary Trust Co bought a new position in Disc Medicine during the 4th quarter valued at approximately $257,000. Finally, Bayesian Capital Management LP bought a new position in Disc Medicine during the 4th quarter valued at approximately $285,000. Institutional investors own 83.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IRON shares. TD Cowen started coverage on Disc Medicine in a research report on Thursday, February 27th. They set a "buy" rating for the company. Stifel Nicolaus upped their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Cantor Fitzgerald upped their price target on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Morgan Stanley restated an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Finally, BMO Capital Markets upped their price target on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Disc Medicine has an average rating of "Buy" and an average target price of $98.80.

Disc Medicine Trading Down 1.7%

Shares of IRON opened at $48.04 on Friday. The business's fifty day simple moving average is $45.86 and its two-hundred day simple moving average is $54.89. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -12.07 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued 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, research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, insider William Jacob Savage sold 6,677 shares of the stock in a transaction 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 transaction, the insider now directly owns 59,721 shares of the company's stock, valued at $2,988,438.84. This represents a 10.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mona Ashiya sold 202,146 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $54.29, for a total value of $10,974,506.34. Following the transaction, the director now directly owns 208,742 shares in the company, valued at $11,332,603.18. The trade was a 49.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,510 shares of company stock worth $18,936,535. Insiders own 4.24% of the company's stock.

About Disc Medicine

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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