Trexquant Investment LP Lowers Holdings in Disc Medicine, Inc. $IRON

Trexquant Investment LP reduced its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 33.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,556 shares of the company's stock after selling 4,318 shares during the period. Trexquant Investment LP's holdings in Disc Medicine were worth $425,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after acquiring an additional 948,094 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after buying an additional 467,988 shares during the period. Vanguard Group Inc. lifted its stake in shares of Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after buying an additional 236,800 shares during the period. Nuveen LLC acquired a new stake in shares of Disc Medicine during the first quarter worth $5,595,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Disc Medicine during the fourth quarter worth $5,147,000. Institutional investors own 83.70% of the company's stock.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the transaction, the chief financial officer directly 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 have sold 132,913 shares of company stock worth $7,856,571 over the last 90 days. Corporate insiders own 3.64% of the company's stock.

Disc Medicine Trading Down 0.8%

IRON stock traded down $0.47 during mid-day trading on Friday, reaching $59.82. 178,558 shares of the stock traded hands, compared to its average volume of 279,542. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The company has a market cap of $2.08 billion, a P/E ratio of -13.38 and a beta of 0.77. The stock's fifty day moving average is $59.16 and its 200-day moving average is $52.27.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

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

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.