Disc Medicine, Inc. (NASDAQ:IRON) Stock Position Reduced by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC decreased its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 39.9% in the third quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 66,500 shares during the quarter. Disc Medicine makes up approximately 2.6% of Ally Bridge Group NY LLC’s holdings, making the stock its 21st largest position. Ally Bridge Group NY LLC’s holdings in Disc Medicine were worth $4,914,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Amalgamated Bank increased its stake in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Disc Medicine by 2.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after purchasing an additional 771 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after purchasing an additional 793 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Disc Medicine by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after buying an additional 1,468 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 14,183 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the sale, the insider now owns 40,405 shares in the company, valued at approximately $2,644,507.25. This trade represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,879 shares of company stock valued at $1,912,335. 4.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IRON has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.80.

Disc Medicine Stock Performance

Disc Medicine stock opened at $64.55 on Thursday. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a market capitalization of $1.92 billion, a PE ratio of -16.26 and a beta of 0.60. The business’s 50-day simple moving average is $53.08 and its 200-day simple moving average is $46.79.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Research analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share 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.