Disc Medicine, Inc. (NASDAQ:IRON) Position Cut by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC lowered its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 39.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 100,000 shares of the company’s stock after selling 66,500 shares during the period. Disc Medicine accounts for 2.6% of Ally Bridge Group NY LLC’s portfolio, making the stock its 21st biggest holding. Ally Bridge Group NY LLC owned about 0.34% of Disc Medicine worth $4,914,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IRON. Amalgamated Bank grew its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 buying an additional 337 shares during the period. Quest Partners LLC acquired a new position in shares of Disc Medicine during the third quarter worth approximately $131,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine in the 2nd quarter worth approximately $129,000. Finally, Quantbot Technologies LP acquired a new stake in Disc Medicine in the 3rd quarter valued at approximately $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and set a $83.00 target price (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. HC Wainwright upped their price target 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. Finally, Scotiabank raised their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $85.80.

Insider Activity at Disc Medicine

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

Disc Medicine Stock Performance

Disc Medicine stock opened at $64.55 on Thursday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -16.26 and a beta of 0.60. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The firm’s 50 day moving average price is $53.08 and its two-hundred day moving average price is $46.79.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, equities analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

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.