Point72 Asset Management L.P. Reduces Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

Point72 Asset Management L.P. trimmed its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 755,867 shares of the company’s stock after selling 5,562 shares during the quarter. Point72 Asset Management L.P.’s holdings in Disc Medicine were worth $37,143,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Disc Medicine by 68.2% during the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after buying an additional 303,954 shares during the period. HighVista Strategies LLC purchased a new stake in shares of Disc Medicine in the third quarter valued at $470,000. Checkpoint Capital L.P. bought a new stake in shares of Disc Medicine in the 3rd quarter worth about $1,255,000. Verition Fund Management LLC purchased a new position in shares of Disc Medicine during the 3rd quarter worth about $589,000. Finally, Walleye Capital LLC grew its holdings in Disc Medicine by 53.7% during the 3rd quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock valued at $10,282,000 after purchasing an additional 73,140 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $62.31 on Friday. The company’s 50-day simple moving average is $55.07 and its 200-day simple moving average is $48.05. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock has a market capitalization of $1.85 billion, a P/E ratio of -15.66 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, research analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on IRON shares. HC Wainwright raised their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $85.80.

Insider Activity

In other news, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total transaction of $126,480.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the sale, the insider now directly owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,836 shares of company stock worth $2,038,816 over the last 90 days. 4.24% of the stock is currently owned by corporate 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.