Y Intercept Hong Kong Ltd Buys New Stake in Disc Medicine, Inc. $IRON

Y Intercept Hong Kong Ltd purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) in the second quarter, HoldingsChannel reports. The institutional investor purchased 9,382 shares of the company’s stock, valued at approximately $497,000.

Several other large investors also recently modified their holdings of the stock. Amalgamated Bank grew its position in 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 acquiring an additional 219 shares during the period. Bank of New York Mellon Corp boosted its position in Disc Medicine by 10.9% in the first quarter. Bank of New York Mellon Corp now owns 63,503 shares of the company’s stock valued at $3,152,000 after buying an additional 6,242 shares in the last quarter. Alps Advisors Inc. grew its stake in Disc Medicine by 5.9% during the first quarter. Alps Advisors Inc. now owns 25,479 shares of the company’s stock worth $1,265,000 after buying an additional 1,412 shares during the last quarter. Arizona State Retirement System grew its holdings in 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 acquiring an additional 590 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Disc Medicine during the first quarter valued at approximately $317,000. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IRON. Raymond James Financial increased their price objective on Disc Medicine from $89.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Friday, October 17th. Stifel Nicolaus started coverage on Disc Medicine in a report on Monday. They set a “buy” rating and a $125.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, October 8th. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a “buy” rating and a $86.00 price objective for the company. Finally, Wedbush upped their target price on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

Disc Medicine Stock Down 1.5%

Shares of IRON opened at $87.00 on Friday. The stock has a fifty day moving average of $71.21 and a 200-day moving average of $59.33. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $95.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -19.46 and a beta of 0.79.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). As a group, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kevin Bitterman sold 70,000 shares of the business’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $88.91, for a total transaction of $6,223,700.00. Following the transaction, the director directly owned 385,549 shares in the company, valued at approximately $34,279,161.59. The trade was a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 218,046 shares of company stock valued at $16,463,375. Corporate insiders own 3.64% 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.