Wells Fargo & Company MN Grows Position in Disc Medicine, Inc. (NASDAQ:IRON)

Wells Fargo & Company MN lifted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,778 shares of the company’s stock after purchasing an additional 7,808 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Disc Medicine worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in Disc Medicine during the 4th quarter worth about $235,000. Teacher Retirement System of Texas lifted its stake in Disc Medicine by 8.9% during the 4th 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 in the last quarter. Virtu Financial LLC acquired a new position in Disc Medicine during the 4th quarter worth about $309,000. China Universal Asset Management Co. Ltd. lifted its stake in 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 worth $400,000 after acquiring an additional 593 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Disc Medicine during the 4th quarter worth about $486,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Disc Medicine

In related news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at $779,503.90. This trade represents a 34.83 % 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, CFO Jean M. Franchi sold 3,136 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the transaction, the chief financial officer now owns 69,530 shares in the company, valued at $3,794,947.40. This represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,690 shares of company stock worth $19,648,094. 4.24% of the stock is owned by company insiders.

Disc Medicine Price Performance

NASDAQ:IRON opened at $46.16 on Tuesday. The firm has a 50-day moving average of $48.38 and a two-hundred day moving average of $55.12. The stock has a market cap of $1.60 billion, a P/E ratio of -11.60 and a beta of 0.77. Disc Medicine, Inc. has a 1-year low of $27.39 and a 1-year high of $68.73.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen assumed coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Cantor Fitzgerald increased their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Scotiabank increased their price objective on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine presently has an average rating of “Buy” and an average price target 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.