Citigroup Inc. raised its stake in Disc Medicine, Inc. (NASDAQ:IRON – Free Report) by 1,053.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,547 shares of the company’s stock after acquiring an additional 24,245 shares during the period. Citigroup Inc.’s holdings in Disc Medicine were worth $1,247,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio acquired a new position in Disc Medicine in the third quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in Disc Medicine in the second quarter valued at approximately $28,000. Bank of America Corp DE boosted its position in shares of Disc Medicine by 134,000.0% during the first quarter. Bank of America Corp DE now owns 2,682 shares of the company’s stock worth $57,000 after buying an additional 2,680 shares during the period. California State Teachers Retirement System acquired a new position in shares of Disc Medicine during the second quarter worth approximately $114,000. Finally, Barclays PLC boosted its position in shares of Disc Medicine by 2,709.5% during the first quarter. Barclays PLC now owns 5,619 shares of the company’s stock worth $119,000 after buying an additional 5,419 shares during the period.
Disc Medicine Trading Down 0.5 %
NASDAQ IRON opened at $64.66 on Tuesday. Disc Medicine, Inc. has a twelve month low of $18.25 and a twelve month high of $70.27. The firm’s 50 day moving average price is $63.40 and its two-hundred day moving average price is $55.38.
Insiders Place Their Bets
In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 77,951 shares of Disc Medicine stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $62.80, for a total transaction of $4,895,322.80. Following the transaction, the insider now directly owns 1,515,834 shares in the company, valued at approximately $95,194,375.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Joanne Bryce sold 2,541 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $56.00, for a total transaction of $142,296.00. Following the transaction, the chief financial officer now directly owns 2,500 shares in the company, valued at approximately $140,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 77,951 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $62.80, for a total transaction of $4,895,322.80. Following the transaction, the insider now owns 1,515,834 shares in the company, valued at $95,194,375.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 340,541 shares of company stock worth $21,937,644. Corporate insiders own 4.71% of the company’s stock.
Analysts Set New Price Targets
IRON has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and set a $79.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Wednesday, December 20th. Finally, Morgan Stanley cut Disc Medicine from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $56.00 to $65.00 in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine has an average rating of “Buy” and a consensus price target of $64.56.
Check Out Our Latest Report on Disc Medicine
Disc Medicine Profile
Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.
Further Reading
Want to see what other hedge funds are holding IRON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Disc Medicine, Inc. (NASDAQ:IRON – Free Report).
Receive News & Ratings for Disc Medicine Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Disc Medicine and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: americanbankingnews.com
