California State Teachers Retirement System Sells 1,436 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

California State Teachers Retirement System reduced its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,531 shares of the company’s stock after selling 1,436 shares during the period. California State Teachers Retirement System’s holdings in Disc Medicine were worth $985,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after purchasing an additional 266 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after purchasing an additional 396 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Disc Medicine during the 4th quarter valued at $40,000. Finally, MetLife Investment Management LLC grew its position in shares of Disc Medicine by 6.6% during the 4th quarter. MetLife Investment Management LLC now owns 12,132 shares of the company’s stock valued at $769,000 after purchasing an additional 755 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IRON. Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen assumed coverage on shares of Disc Medicine in a research report on Thursday, February 27th. They issued a “buy” rating for the company. Cantor Fitzgerald upped their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. BMO Capital Markets upped their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research 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. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $98.80.

Disc Medicine Stock Up 3.2%

Disc Medicine stock opened at $53.07 on Wednesday. The company has a market capitalization of $1.84 billion, a PE ratio of -13.33 and a beta of 0.73. The firm has a fifty day simple moving average of $45.01 and a two-hundred day simple moving average of $53.50. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results 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 expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider William Jacob Savage sold 2,100 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the completion of the transaction, the insider now directly owns 66,398 shares of the company’s stock, valued at approximately $3,331,187.66. This represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mona Ashiya sold 10,011 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the transaction, the director now directly owns 187,297 shares of the company’s stock, valued at approximately $10,114,038. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,178 shares of company stock valued at $3,582,568 over the last three months. Insiders own 4.24% of the company’s stock.

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.