Swiss National Bank Buys 3,700 Shares of Disc Medicine, Inc. $IRON

Swiss National Bank grew its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 11.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,900 shares of the company’s stock after purchasing an additional 3,700 shares during the period. Swiss National Bank owned about 0.10% of Disc Medicine worth $1,782,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares during the period. GF Fund Management CO. LTD. acquired a new position in Disc Medicine in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC lifted its position in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after acquiring an additional 266 shares during the period. Fiduciary Trust Co bought a new stake in shares of Disc Medicine in the 4th quarter worth approximately $257,000. Finally, Arizona State Retirement System grew its holdings in shares of Disc Medicine by 12.5% during the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after purchasing an additional 590 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Stock Performance

Disc Medicine stock opened at $60.35 on Monday. The firm has a market capitalization of $2.10 billion, a P/E ratio of -13.50 and a beta of 0.77. The stock has a fifty day moving average price of $56.87 and a two-hundred day moving average price of $51.63. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRON. Morgan Stanley upped their target price on Disc Medicine from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Raymond James Financial initiated coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 price target on the stock. Truist Financial assumed coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a “buy” rating and a $86.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Finally, BMO Capital Markets upped their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $98.30.

Insiders Place Their Bets

In other news, Director Kevin Bitterman sold 7,212 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $60.99, for a total value of $439,859.88. Following the transaction, the director directly owned 592,908 shares of the company’s stock, valued at $36,161,458.92. The trade was a 1.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jean M. Franchi sold 2,031 shares of the firm’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the sale, the chief financial officer directly owned 63,499 shares of the company’s stock, valued at $3,746,441. This represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,622 shares of company stock valued at $7,866,795. 3.64% of the stock is currently owned by insiders.

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.