SG Americas Securities LLC Grows Stake in Disc Medicine, Inc. (NASDAQ:IRON)

SG Americas Securities LLC lifted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 77.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,329 shares of the company’s stock after acquiring an additional 6,253 shares during the quarter. SG Americas Securities LLC’s holdings in Disc Medicine were worth $711,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of IRON. FMR LLC grew its holdings in shares of Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after purchasing an additional 1,459,434 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Disc Medicine by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after buying an additional 467,988 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock valued at $67,727,000 after buying an additional 18,716 shares in the last quarter. Finally, Woodline Partners LP raised its stake in Disc Medicine by 5.2% during the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock valued at $25,144,000 after purchasing an additional 19,538 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Disc Medicine in a research note on Monday, June 16th. Morgan Stanley restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, March 7th. Raymond James Financial initiated 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 objective for the company. BMO Capital Markets increased their price target 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, TD Cowen started coverage on shares of 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 given a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $96.70.

Disc Medicine Price Performance

IRON stock opened at $51.61 on Friday. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73. The company has a market cap of $1.79 billion, a P/E ratio of -13.17 and a beta of 0.73. The firm has a 50-day moving average of $47.22 and a 200 day moving average of $52.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65.

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

Insider Activity at Disc Medicine

In related news, insider William Jacob Savage sold 2,996 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the completion of the sale, the insider now owns 56,725 shares in the company, valued at $2,836,250. This represents a 5.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mona Ashiya sold 5,738 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 186,541 shares of the company’s stock, valued at $10,093,733.51. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,511 shares of company stock worth $1,004,277. Insiders own 4.24% of the company’s stock.

Disc Medicine Company 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.