Jane Street Group LLC Trims Holdings in Disc Medicine, Inc. (NASDAQ:IRON)

Jane Street Group LLC lowered its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 23.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,731 shares of the company’s stock after selling 7,680 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of Disc Medicine worth $1,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in IRON. Amalgamated Bank grew its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the period. Quest Partners LLC purchased a new position in Disc Medicine during the third quarter worth about $131,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine in the 2nd quarter worth about $129,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the 3rd quarter valued at about $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. Scotiabank boosted their target price on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Stifel Nicolaus boosted their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $87.50.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the completion of the sale, the insider now owns 40,405 shares of the company’s stock, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Richard White sold 7,136 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders sold 65,447 shares of company stock worth $4,134,585 over the last three months. 4.24% of the stock is currently owned by corporate insiders.

Disc Medicine Price Performance

IRON stock opened at $64.12 on Monday. The company has a market cap of $1.91 billion, a P/E ratio of -16.11 and a beta of 0.76. The firm has a 50-day moving average of $60.41 and a 200 day moving average of $51.54. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, equities research analysts expect that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

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.