Bank of America Corp DE Reduces Position in Disc Medicine, Inc. (NASDAQ:IRON)

Bank of America Corp DE lowered its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 49.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,345 shares of the company’s stock after selling 34,747 shares during the period. Bank of America Corp DE owned about 0.12% of Disc Medicine worth $2,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of Disc Medicine in the 4th quarter valued at about $324,000. Ameriprise Financial Inc. acquired a new position in shares of Disc Medicine during the fourth quarter valued at $335,000. Algert Global LLC lifted its holdings in Disc Medicine by 135.4% in the fourth quarter. Algert Global LLC now owns 16,337 shares of the company’s stock worth $1,036,000 after purchasing an additional 9,397 shares during the period. PDT Partners LLC acquired a new stake in Disc Medicine in the fourth quarter worth about $1,634,000. Finally, Northern Trust Corp raised its position in Disc Medicine by 9.5% in the fourth quarter. Northern Trust Corp now owns 187,017 shares of the company’s stock worth $11,857,000 after acquiring an additional 16,299 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider William Jacob Savage sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the sale, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mona Ashiya sold 202,146 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the transaction, the director now owns 208,742 shares in the company, valued at $11,332,603.18. This represents a 49.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,510 shares of company stock valued at $18,936,535. 4.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IRON shares. Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. BMO Capital Markets raised their target price on Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Cantor Fitzgerald lifted their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Finally, TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating for the company. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $98.80.

Disc Medicine Trading Up 2.2%

Shares of IRON opened at $47.73 on Tuesday. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73. The stock has a market cap of $1.65 billion, a P/E ratio of -11.99 and a beta of 0.77. The stock’s 50-day moving average price is $44.98 and its two-hundred day moving average price is $53.95.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

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.