Disc Medicine, Inc. (NASDAQ:IRON) Shares Purchased by Walleye Capital LLC

Walleye Capital LLC raised its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 53.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 209,236 shares of the company’s stock after purchasing an additional 73,140 shares during the quarter. Walleye Capital LLC’s holdings in Disc Medicine were worth $10,282,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Amalgamated Bank grew its stake in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Disc Medicine during the second quarter worth about $129,000. Quest Partners LLC acquired a new stake in shares of Disc Medicine during the third quarter worth about $131,000. Finally, Quantbot Technologies LP purchased a new position in shares of Disc Medicine in the third quarter valued at approximately $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IRON. Scotiabank increased their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Wedbush reissued an “outperform” rating and set a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group began coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.80.

Disc Medicine Price Performance

Shares of IRON opened at $63.45 on Friday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $1.89 billion, a PE ratio of -15.94 and a beta of 0.60. The firm has a fifty day moving average price of $53.74 and a 200 day moving average price of $47.04.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, equities analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

Insider Activity

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider William Jacob Savage sold 14,183 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total transaction of $928,277.35. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,879 shares of company stock valued at $1,912,335 in the last ninety days. 4.24% of the stock is currently owned by company insiders.

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.