Intech Investment Management LLC Has $647,000 Stake in Disc Medicine, Inc. $IRON

Intech Investment Management LLC increased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,222 shares of the company’s stock after purchasing an additional 1,274 shares during the quarter. Intech Investment Management LLC’s holdings in Disc Medicine were worth $647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IRON. Caitong International Asset Management Co. Ltd raised its position in Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock worth $47,000 after purchasing an additional 940 shares during the last quarter. CWM LLC increased its stake in shares of Disc Medicine by 213.5% in the 2nd quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $55,000 after buying an additional 711 shares during the period. Avanza Fonder AB bought a new stake in shares of Disc Medicine during the second quarter worth $57,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Disc Medicine by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after acquiring an additional 181 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Disc Medicine by 24.3% during the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company’s stock valued at $244,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Buying and Selling at Disc Medicine

In related news, Director Kevin Bitterman sold 71,961 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the sale, the director owned 500,621 shares in the company, valued at $35,333,830.18. This represents a 12.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $84.70, for a total value of $2,541,000.00. Following the sale, the chief operating officer directly owned 40,555 shares in the company, valued at $3,435,008.50. The trade was a 42.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,585 shares of company stock valued at $16,898,513 in the last three months. 3.64% of the stock is owned by company insiders.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $93.75 on Friday. The firm’s 50 day simple moving average is $79.90 and its 200 day simple moving average is $63.88. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $97.11. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -17.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45.

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

Analyst Ratings Changes

A number of brokerages recently commented on IRON. Stifel Nicolaus started coverage on Disc Medicine in a research report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price objective for the company. National Bankshares set a $153.00 price target on shares of Disc Medicine in a research report on Friday, October 17th. Truist Financial boosted their price target on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Morgan Stanley raised their price objective on shares of Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.10.

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.