Invesco Ltd. Acquires 5,253 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Invesco Ltd. lifted its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,881 shares of the company's stock after purchasing an additional 5,253 shares during the quarter. Invesco Ltd.'s holdings in Disc Medicine were worth $690,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of IRON. KLP Kapitalforvaltning AS bought a new position in Disc Medicine in the 4th quarter valued at about $235,000. Teacher Retirement System of Texas grew its holdings in Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after acquiring an additional 396 shares during the period. Virtu Financial LLC bought a new stake in Disc Medicine in the fourth quarter worth about $309,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock valued at $400,000 after purchasing an additional 593 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Disc Medicine in the 4th quarter worth approximately $486,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Disc Medicine news, CFO Jean M. Franchi sold 3,136 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,162.88. Following the completion of the sale, the chief financial officer now directly owns 69,530 shares in the company, valued at $3,794,947.40. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John D. Quisel sold 5,574 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares of the company's stock, valued at $8,450,512.24. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,190 shares of company stock worth $19,231,544 in the last three months. 4.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank raised their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Stifel Nicolaus boosted their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Finally, Cantor Fitzgerald raised their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $93.80.

Disc Medicine Price Performance

Disc Medicine stock traded down $5.89 during trading hours on Tuesday, hitting $42.71. The company had a trading volume of 800,676 shares, compared to its average volume of 346,428. The firm's fifty day moving average is $47.84 and its 200-day moving average is $55.12. The firm has a market capitalization of $1.48 billion, a P/E ratio of -10.73 and a beta of 0.77. Disc Medicine, Inc. has a fifty-two week low of $28.25 and a fifty-two week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.08. Analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

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.