Fred Alger Management LLC Takes Position in Disc Medicine, Inc. (NASDAQ:IRON)

Fred Alger Management LLC acquired a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,775 shares of the company's stock, valued at approximately $747,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRON. Sterling Capital Management LLC grew its position in 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 purchasing an additional 503 shares during the period. Tower Research Capital LLC TRC raised its stake 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 worth $52,000 after purchasing an additional 266 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Disc Medicine during the 4th quarter worth $235,000. Bayesian Capital Management LP bought a new position in shares of Disc Medicine during the 4th quarter worth $285,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after purchasing an additional 396 shares in the last quarter. Institutional investors own 83.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IRON shares. Scotiabank lifted their price objective on shares of Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Morgan Stanley reissued an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. BMO Capital Markets upped their price target on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price target on Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Disc Medicine currently has an average rating of "Buy" and an average target price of $98.80.

Disc Medicine Trading Down 1.3%

Shares of IRON traded down $0.62 during mid-day trading on Wednesday, reaching $45.73. The company's stock had a trading volume of 218,935 shares, compared to its average volume of 349,566. The stock has a market cap of $1.58 billion, a PE ratio of -11.49 and a beta of 0.77. The company's fifty day moving average price is $46.54 and its two-hundred day moving average price is $54.93. Disc Medicine, Inc. has a 52 week low of $30.65 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Research analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 2,100 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $87,873.80. Following the sale, the chief operating officer now directly owns 40,555 shares of the company's stock, valued at approximately $2,213,491.90. The trade was a 3.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,290 shares of company stock worth $19,336,901 over the last three months. 4.24% of the stock is currently owned by corporate insiders.

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.