Trexquant Investment LP Cuts Position in Disc Medicine, Inc. (NASDAQ:IRON)

Trexquant Investment LP reduced its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 19.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,874 shares of the company’s stock after selling 3,201 shares during the period. Trexquant Investment LP’s holdings in Disc Medicine were worth $816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after buying an additional 396 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after acquiring an additional 593 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Disc Medicine by 5.7% in the 4th quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock worth $1,841,000 after acquiring an additional 1,553 shares during the period. JPMorgan Chase & Co. increased its stake in Disc Medicine by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after purchasing an additional 2,257 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock worth $512,000 after purchasing an additional 3,212 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jonathan Yen-Wen Yu sold 1,610 shares of Disc Medicine stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $87,873.80. Following the transaction, the chief operating officer now directly owns 40,555 shares of the company’s stock, valued at $2,213,491.90. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jean M. Franchi sold 3,136 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,162.88. Following the sale, the chief financial officer now directly owns 69,530 shares of the company’s stock, valued at approximately $3,794,947.40. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,690 shares of company stock valued at $19,648,094 in the last ninety days. Company insiders own 4.24% of the company’s stock.

Disc Medicine Trading Up 9.9 %

Shares of NASDAQ:IRON opened at $38.73 on Friday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -9.73 and a beta of 0.77. The stock’s 50-day moving average price is $50.88 and its two-hundred day moving average price is $55.52. Disc Medicine, Inc. has a 12-month low of $25.64 and a 12-month high of $68.73.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.08. As a group, research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IRON shares. Morgan Stanley restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $93.80.

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.