Bleakley Financial Group LLC Makes New Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Bleakley Financial Group LLC purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,716 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds have also recently added to or reduced their stakes in IRON. Citadel Advisors LLC raised its holdings in Disc Medicine by 280.4% during the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after purchasing an additional 480,082 shares during the last quarter. BlackRock Inc. grew its position in shares of Disc Medicine by 2,041.5% during the 2nd quarter. BlackRock Inc. now owns 502,549 shares of the company’s stock worth $22,313,000 after buying an additional 479,082 shares during the period. Sphera Funds Management LTD. acquired a new stake in shares of Disc Medicine during the 1st quarter worth approximately $4,662,000. Adage Capital Partners GP L.L.C. grew its position in shares of Disc Medicine by 12.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after buying an additional 145,781 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Disc Medicine during the 3rd quarter worth approximately $6,461,000. Institutional investors own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

IRON has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Wednesday, December 20th. BMO Capital Markets reduced their price objective on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Stifel Nicolaus raised their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective (down previously from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.29.

Insiders Place Their Bets

In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the transaction, the insider now directly owns 1,402,186 shares of the company’s stock, valued at approximately $94,857,882.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the transaction, the insider now directly owns 1,402,186 shares of the company’s stock, valued at approximately $94,857,882.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The disclosure for this sale can be found here. Insiders have sold 152,560 shares of company stock valued at $10,228,908 in the last three months. 4.71% of the stock is currently owned by insiders.

Disc Medicine Trading Down 1.9 %

NASDAQ IRON opened at $29.93 on Wednesday. The company has a fifty day simple moving average of $57.21 and a 200 day simple moving average of $55.74. Disc Medicine, Inc. has a 12-month low of $21.70 and a 12-month high of $77.60. The company has a market cap of $722.51 million, a P/E ratio of -8.58 and a beta of 0.18.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). Sell-side analysts predict that Disc Medicine, Inc. will post -4.44 EPS for the current year.

Disc Medicine 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.