PNC Financial Services Group Inc. raised its stake in Disc Medicine, Inc. (NASDAQ:IRON – Free Report) by 149.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the company’s stock after buying an additional 5,990 shares during the period. PNC Financial Services Group Inc.’s holdings in Disc Medicine were worth $578,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in IRON. First Turn Management LLC bought a new stake in shares of Disc Medicine in the 4th quarter valued at about $9,084,000. Adage Capital Partners GP L.L.C. grew its position in shares of Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after buying an additional 145,781 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Disc Medicine by 19.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after buying an additional 130,000 shares during the last quarter. Perceptive Advisors LLC grew its position in shares of Disc Medicine by 14.2% in the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after buying an additional 127,404 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Disc Medicine by 224.6% in the 4th quarter. Wellington Management Group LLP now owns 177,726 shares of the company’s stock valued at $10,265,000 after buying an additional 122,981 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.
Disc Medicine Stock Performance
IRON stock opened at $43.41 on Thursday. The stock’s 50 day simple moving average is $34.46 and its 200 day simple moving average is $50.43. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company has a market cap of $1.07 billion, a P/E ratio of -12.84 and a beta of 0.51.
Disc Medicine (NASDAQ:IRON – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Equities analysts predict that Disc Medicine, Inc. will post -4.56 earnings per share for the current year.
Wall Street Analyst Weigh In
IRON has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, April 8th. BMO Capital Markets restated an “outperform” rating and set a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Raymond James upped their target price on Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Wedbush restated an “outperform” rating and set a $57.00 target price (up previously from $43.00) on shares of Disc Medicine in a research report on Friday, June 14th. Finally, Morgan Stanley cut their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $62.57.
Get Our Latest Stock Report on Disc Medicine
Insider Transactions at Disc Medicine
In other news, Director William Richard White sold 2,560 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.24% of the company’s stock.
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.
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Source: defenseworld.net
