GAMMA Investing LLC Grows Position in Disc Medicine, Inc. (NASDAQ:IRON)

GAMMA Investing LLC raised its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 5,092.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,410 shares of the company’s stock after purchasing an additional 12,171 shares during the quarter. GAMMA Investing LLC’s holdings in Disc Medicine were worth $616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the fourth quarter worth approximately $40,000. Tower Research Capital LLC TRC increased its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Disc Medicine in the fourth quarter worth approximately $235,000. Finally, Fiduciary Trust Co bought a new position in Disc Medicine during the fourth quarter valued at approximately $257,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Stock Up 0.1%

Shares of Disc Medicine stock opened at $50.09 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.78 and a beta of 0.73. The company’s 50 day moving average price is $46.67 and its 200-day moving average price is $53.06.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). Equities research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Transactions at Disc Medicine

In other news, Director Mona Ashiya sold 5,738 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the transaction, the director now directly owns 186,541 shares of the company’s stock, valued at $10,093,733.51. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jean M. Franchi sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $52.26, for a total transaction of $104,520.00. Following the transaction, the chief financial officer now directly owns 67,530 shares of the company’s stock, valued at $3,529,117.80. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,522 shares of company stock valued at $1,544,871 in the last quarter. 4.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IRON shares. Scotiabank increased 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. BMO Capital Markets increased their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday. Cantor Fitzgerald increased their price target on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Raymond James Financial started coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $96.70.

Disc Medicine 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.