HighVista Strategies LLC Invests $470,000 in Disc Medicine, Inc. (NASDAQ:IRON)

HighVista Strategies LLC bought a new position in Disc Medicine, Inc. (NASDAQ:IRON) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 9,565 shares of the company’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Checkpoint Capital L.P. purchased a new position in Disc Medicine during the 3rd quarter valued at about $1,255,000. Verition Fund Management LLC purchased a new position in Disc Medicine during the 3rd quarter valued at about $589,000. Walleye Capital LLC lifted its position in Disc Medicine by 53.7% during the 3rd quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock valued at $10,282,000 after acquiring an additional 73,140 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Disc Medicine by 21.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,649 shares of the company’s stock valued at $916,000 after acquiring an additional 3,312 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Disc Medicine by 18.0% during the 3rd quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock valued at $559,000 after acquiring an additional 1,735 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Stock Performance

Shares of IRON opened at $64.70 on Wednesday. The company’s fifty day moving average is $54.39 and its 200 day moving average is $47.71. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results 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, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRON. Wells Fargo & Company began coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, HC Wainwright raised their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $85.80.

Insider Buying and Selling 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the completion of the transaction, the insider now owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,879 shares of company stock worth $1,912,335 over the last quarter. Insiders own 4.24% of the company’s stock.

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.