Quantbot Technologies LP Grows Position in Disc Medicine, Inc. $IRON

Key Points

• Quantbot Technologies LP increased its stake in Disc Medicine, Inc. (NASDAQ:IRON) by an astonishing 189,025.0% during the first quarter, with holdings now valued at $376,000.
• Equities research analysts are optimistic about Disc Medicine, with several firms issuing buy ratings and target prices ranging from $86.00 to $120.00.
• Insider transactions indicate selling activity, as CFO Jean M. Franchi sold 2,031 shares recently, and insiders have sold a total of $8,006,371 worth of stock over the last three months.

Quantbot Technologies LP raised its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 189,025.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,565 shares of the company's stock after acquiring an additional 7,561 shares during the period. Quantbot Technologies LP's holdings in Disc Medicine were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in shares of Disc Medicine by 67.9% in the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after acquiring an additional 948,094 shares during the period. Northern Trust Corp lifted its stake in shares of Disc Medicine by 11.7% in the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company's stock worth $10,365,000 after acquiring an additional 21,796 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Disc Medicine by 13,428.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock valued at $47,000 after purchasing an additional 940 shares during the period. Nuveen LLC acquired a new stake in shares of Disc Medicine in the first quarter valued at about $5,595,000. Finally, Invesco Ltd. lifted its stake in shares of Disc Medicine by 27.1% in the first quarter. Invesco Ltd. now owns 13,834 shares of the company's stock valued at $687,000 after purchasing an additional 2,953 shares during the period. Institutional investors and hedge funds own 83.70% of the company's stock.

Insider Transactions at Disc Medicine

In other news, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the sale, the director directly owned 590,621 shares in the company, valued at $36,045,599.63. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jean M. Franchi sold 2,031 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the sale, the chief financial officer owned 63,499 shares of the company's stock, valued at approximately $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. Insiders sold a total of 135,909 shares of company stock worth $8,006,371 over the last ninety days. 3.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on IRON shares. 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. BMO Capital Markets raised their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, July 21st. Truist Financial started coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective for the company. Finally, Raymond James Financial started coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of "Buy" and an average target price of $98.30.

Disc Medicine Trading Down 0.0%

Shares of NASDAQ IRON traded down $0.01 during midday trading on Friday, reaching $59.65. 214,790 shares of the stock were exchanged, compared to its average volume of 315,800. The company has a market capitalization of $2.07 billion, a P/E ratio of -13.34 and a beta of 0.77. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $57.76 and a 200-day moving average price of $51.84.

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

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.