Avanza Fonder AB Invests $57,000 in Disc Medicine, Inc. $IRON

Avanza Fonder AB purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,083 shares of the company’s stock, valued at approximately $57,000.

A number of other large investors have also recently made changes to their positions in IRON. Ameriprise Financial Inc. bought a new stake in shares of Disc Medicine in the fourth quarter worth approximately $335,000. BNP Paribas Financial Markets bought a new position in Disc Medicine in the fourth quarter valued at about $324,000. Deutsche Bank AG lifted its holdings in Disc Medicine by 75.7% in the fourth quarter. Deutsche Bank AG now owns 16,093 shares of the company’s stock valued at $1,020,000 after acquiring an additional 6,933 shares during the period. Millennium Management LLC bought a new position in Disc Medicine in the fourth quarter valued at about $500,000. Finally, ProShare Advisors LLC lifted its holdings in Disc Medicine by 26.5% in the fourth quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock valued at $442,000 after acquiring an additional 1,458 shares during the period. 83.70% of the stock is currently owned by institutional investors.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 34,800 shares of the company’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the sale, the chief executive officer owned 161,828 shares of the company’s stock, valued at $8,953,943.24. This represents a 17.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jean M. Franchi sold 2,031 shares of the company’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the sale, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,913 shares of company stock valued at $7,752,051 over the last 90 days. 3.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on IRON shares. Morgan Stanley boosted their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Wedbush reissued an “outperform” rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, July 21st. Truist Financial assumed coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a “buy” rating and a $86.00 price objective for the company. Finally, Raymond James Financial assumed coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $98.30.

Disc Medicine Price Performance

Disc Medicine stock opened at $61.49 on Tuesday. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -13.76 and a beta of 0.77. The firm’s fifty day moving average is $59.78 and its 200 day moving average is $52.48. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.41). Sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal 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.