Price T Rowe Associates Inc. MD Purchases 262,690 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Price T Rowe Associates Inc. MD lifted its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,394,637 shares of the company's stock after buying an additional 262,690 shares during the quarter. Price T Rowe Associates Inc. MD owned about 4.69% of Disc Medicine worth $88,421,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in IRON. Barclays PLC grew its position in Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company's stock worth $1,972,000 after acquiring an additional 22,202 shares in the last quarter. Exome Asset Management LLC lifted its stake in shares of Disc Medicine by 5.8% in the 3rd quarter. Exome Asset Management LLC now owns 64,516 shares of the company's stock valued at $3,170,000 after purchasing an additional 3,516 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Disc Medicine by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company's stock worth $799,000 after purchasing an additional 2,257 shares in the last quarter. SG Americas Securities LLC increased its position in Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company's stock worth $512,000 after buying an additional 3,212 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock valued at $400,000 after buying an additional 593 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Trading Down 0.3 %

IRON traded down $0.17 on Friday, hitting $49.51. 202,082 shares of the stock traded hands, compared to its average volume of 344,826. The business has a fifty day moving average price of $47.96 and a two-hundred day moving average price of $55.10. The firm has a market capitalization of $1.71 billion, a PE ratio of -12.44 and a beta of 0.77. Disc Medicine, Inc. has a 52 week low of $28.25 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.08. On average, equities research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO John D. Quisel sold 5,574 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $304,228.92. Following the sale, the chief executive officer now owns 154,828 shares of the company's stock, valued at $8,450,512.24. The trade was a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.54, for a total transaction of $416,550.00. Following the transaction, the insider now owns 14,035 shares of the company's stock, valued at approximately $779,503.90. This represents a 34.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 361,690 shares of company stock worth $19,648,094. 4.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IRON shares. Scotiabank raised their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a "buy" rating on the stock. Stifel Nicolaus boosted their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $93.80.

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.