Mirae Asset Global Investments Co. Ltd. Purchases 181 Shares of Disc Medicine, Inc. $IRON

Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine, Inc. (NASDAQ:IRON) by 15.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,338 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Disc Medicine were worth $71,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after purchasing an additional 590 shares during the period. Amalgamated Bank lifted its position in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after purchasing an additional 219 shares during the period. Rhumbline Advisers lifted its position in Disc Medicine by 10.7% in the first quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock worth $1,596,000 after purchasing an additional 3,108 shares during the period. Northern Trust Corp lifted its position in Disc Medicine by 11.7% in the first quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock worth $10,365,000 after purchasing an additional 21,796 shares during the period. Finally, Atle Fund Management AB bought a new position in Disc Medicine in the second quarter worth $1,306,000. 83.70% of the stock is owned by institutional investors.

Disc Medicine Stock Performance

Disc Medicine stock opened at $69.90 on Monday. The stock has a 50-day simple moving average of $61.86 and a 200 day simple moving average of $53.83. 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 12-month low of $30.82 and a 12-month high of $72.68. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -15.64 and a beta of 0.80.

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). On average, research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Morgan Stanley increased their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Truist Financial assumed coverage on shares of Disc Medicine in a report on Monday, July 21st. They set a “buy” rating and a $86.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Disc Medicine in a research note on Monday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.30.

Insider Transactions at Disc Medicine

In related news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares of the company’s stock, valued at $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kevin Bitterman sold 71,961 shares of Disc Medicine stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the transaction, the director directly owned 500,621 shares of the company’s stock, valued at $35,333,830.18. This represents a 12.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,913 shares of company stock valued at $11,737,613 over the last ninety days. 3.64% of the stock is currently owned by company insiders.

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.