Rafferty Asset Management LLC Increases Position in Disc Medicine, Inc. $IRON

Key Points

• Rafferty Asset Management LLC increased its investment in Disc Medicine, Inc. by 22.7%, holding a total of 34,041 shares valued at approximately $1.69 million.
• Disc Medicine's stock has seen institutional ownership rise, with hedge funds holding 83.7% of the stock, indicating significant institutional interest.
• The company reported a quarterly loss of ($1.58) EPS, missing analyst expectations, while facing a target price by analysts ranging from $86 to $120.

Rafferty Asset Management LLC grew its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,041 shares of the company's stock after buying an additional 6,292 shares during the period. Rafferty Asset Management LLC owned 0.10% of Disc Medicine worth $1,690,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Arizona State Retirement System boosted its holdings 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 valued at $264,000 after buying an additional 590 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 38.6% in the 1st 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. Rhumbline Advisers boosted its holdings in shares of Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock valued at $1,596,000 after buying an additional 3,108 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock valued at $616,000 after buying an additional 12,171 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Disc Medicine in the 4th quarter valued at $335,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Stock Performance

Disc Medicine stock traded up $1.75 during trading hours on Tuesday, reaching $61.40. 356,331 shares of the stock were exchanged, compared to its average volume of 292,549. The stock has a market cap of $2.13 billion, a P/E ratio of -13.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The firm's 50 day moving average is $58.05 and its 200 day moving average is $51.92.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRON. HC Wainwright restated a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a report on Thursday, July 3rd. Morgan Stanley increased their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a research note on Monday, July 21st. Raymond James Financial began coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target for the company. Finally, Truist Financial began coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a "buy" rating and a $86.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat.com, Disc Medicine presently has a consensus rating of "Buy" and an average price target of $98.30.

Insider Activity at Disc Medicine

In other news, Director Kevin Bitterman sold 29,837 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $60.97, for a total value of $1,819,161.89. Following the completion of the transaction, the director owned 647,002 shares in the company, valued at $39,447,711.94. This trade represents a 4.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Jacob Savage sold 2,996 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the completion of the transaction, the insider owned 56,725 shares of the company's stock, valued at $2,836,250. This represents a 5.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,909 shares of company stock worth $8,006,371. 3.64% of the stock is owned by company insiders.

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.