Walleye Capital LLC Sells 4,929 Shares of Disc Medicine, Inc. $IRON

Key Points

• Walleye Capital LLC reduced its position in Disc Medicine, Inc. by 18.3% during the 1st quarter, owning 22,075 shares valued at about $1,096,000 after selling 4,929 shares.
• Multiple institutional investors have increased their stakes in Disc Medicine, with Wellington Management raising its ownership by 67.9% during the same quarter, totaling 2,343,499 shares valued at approximately $116.3 million.
• Analysts have set a consensus target price of $98.30 for Disc Medicine, with reports indicating a majority rating of "Buy" among analysts, alongside notable price targets like $90.00 from Morgan Stanley.

Walleye Capital LLC decreased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 18.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,075 shares of the company's stock after selling 4,929 shares during the period. Walleye Capital LLC owned 0.06% of Disc Medicine worth $1,096,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Amalgamated Bank increased its holdings in shares of Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after acquiring an additional 219 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 acquiring an additional 266 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Disc Medicine by 12.5% during the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock valued at $264,000 after acquiring an additional 590 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 9.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,934 shares of the company's stock valued at $344,000 after buying an additional 624 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Disc Medicine in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Price Performance

Shares of Disc Medicine stock traded up $1.75 during midday trading on Tuesday, hitting $61.40. 356,331 shares of the company were exchanged, compared to its average volume of 292,549. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm has a market cap of $2.13 billion, a P/E ratio of -13.74 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 firm has a 50 day simple moving average of $58.05 and a 200-day simple moving average of $51.92.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). Research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Insider Buying and Selling

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the transaction, the chief financial officer owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Bitterman sold 29,837 shares of Disc Medicine stock in a transaction on 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 of the company's stock, valued at approximately $39,447,711.94. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,909 shares of company stock worth $8,006,371 over the last 90 days. Corporate insiders own 3.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, July 21st. BMO Capital Markets raised their target price on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a report on Thursday, July 3rd. Truist Financial assumed coverage on Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 target price on the stock. Finally, Raymond James Financial assumed coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.