PDT Partners LLC Acquires New Shares in Disc Medicine, Inc. (NASDAQ:IRON)

PDT Partners LLC bought a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 25,778 shares of the company's stock, valued at approximately $1,634,000. PDT Partners LLC owned about 0.09% of Disc Medicine at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company's stock worth $118,320,000 after acquiring an additional 1,459,434 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company's stock worth $88,421,000 after purchasing an additional 262,690 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Disc Medicine during the fourth quarter valued at about $5,579,000. Renaissance Technologies LLC bought a new position in shares of Disc Medicine during the fourth quarter valued at about $5,479,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Disc Medicine by 160.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 139,720 shares of the company's stock worth $8,856,000 after buying an additional 86,154 shares during the period. Hedge funds and other institutional investors own 83.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IRON shares. Cantor Fitzgerald increased their target price on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, January 24th. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley reissued an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. Finally, TD Cowen started coverage on shares of Disc Medicine in a research report on Thursday, February 27th. They issued a "buy" rating on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $93.80.

Disc Medicine Price Performance

IRON traded down $0.17 on Friday, hitting $49.51. The company had a trading volume of 202,082 shares, compared to its average volume of 344,532. Disc Medicine, Inc. has a 52-week low of $28.25 and a 52-week high of $68.73. The stock has a fifty day simple moving average of $47.96 and a 200-day simple moving average of $55.05. The firm has a market capitalization of $1.71 billion, a P/E ratio of -12.44 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.08. Equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now directly owns 69,530 shares of the company's stock, valued at approximately $3,794,947.40. This represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rahul Khara sold 7,500 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total value of $416,550.00. Following the transaction, the insider now owns 14,035 shares of the company's stock, valued at $779,503.90. The trade was a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,690 shares of company stock worth $19,648,094 in the last three months. 4.24% of the stock is 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.