Invesco Ltd. Increases Stock Holdings in Disc Medicine, Inc. (NASDAQ:IRON)

Invesco Ltd. increased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 93.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,881 shares of the company’s stock after buying an additional 5,253 shares during the quarter. Invesco Ltd.’s holdings in Disc Medicine were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its stake 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Disc Medicine during the fourth quarter worth about $5,579,000. JPMorgan Chase & Co. grew its position in Disc Medicine by 275.4% in the 4th quarter. JPMorgan Chase & Co. now owns 61,017 shares of the company’s stock worth $3,868,000 after purchasing an additional 44,762 shares in the last quarter. Barclays PLC increased its stake in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after buying an additional 22,202 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after buying an additional 18,716 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Stock Down 0.3 %

Shares of NASDAQ:IRON opened at $49.51 on Friday. 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 twelve month low of $28.25 and a twelve month high of $68.73. The company has a 50-day moving average price of $47.96 and a two-hundred day moving average price of $55.05.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. Analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mona Ashiya sold 5,738 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the sale, the director now directly owns 186,541 shares of the company’s stock, valued at approximately $10,093,733.51. This represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 3,136 shares of the business’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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 361,690 shares of company stock worth $19,648,094 over the last 90 days. Corporate insiders own 4.24% of the company’s stock.

Analysts Set New Price Targets

IRON has been the subject of several recent analyst reports. TD Cowen initiated coverage on Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Cantor Fitzgerald upped their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Stifel Nicolaus increased their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.