Virtus Investment Advisers LLC Sells 772 Shares of Disc Medicine, Inc. $IRON

Virtus Investment Advisers LLC reduced its position in Disc Medicine, Inc. (NASDAQ:IRON) by 30.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,784 shares of the company’s stock after selling 772 shares during the period. Virtus Investment Advisers LLC’s holdings in Disc Medicine were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Disc Medicine by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after acquiring an additional 181 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Disc Medicine by 8.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock valued at $133,000 after purchasing an additional 206 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in shares of Disc Medicine by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,490 shares of the company’s stock valued at $291,000 after purchasing an additional 600 shares during the last quarter. CWM LLC lifted its stake in shares of Disc Medicine by 213.5% in the 2nd quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Disc Medicine by 24.3% in the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company’s stock worth $244,000 after buying an additional 900 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

NASDAQ:IRON opened at $91.85 on Monday. The company has a market capitalization of $3.47 billion, a P/E ratio of -17.17 and a beta of 0.86. The business’s 50-day moving average is $80.52 and its 200 day moving average is $64.45. The company has a current ratio of 23.45, a quick ratio of 23.45 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 $97.11.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). On average, equities research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jonathan Yen-Wen Yu sold 30,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the sale, the chief operating officer directly owned 40,555 shares in the company, valued at $3,435,008.50. The trade was a 42.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin Bitterman sold 70,000 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $88.91, for a total transaction of $6,223,700.00. Following the completion of the transaction, the director directly owned 385,549 shares of the company’s stock, valued at approximately $34,279,161.59. The trade was a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 213,585 shares of company stock worth $16,898,513. 3.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Stifel Nicolaus started coverage on Disc Medicine in a research report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price target for the company. Raymond James Financial increased their target price on shares of Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Friday, October 17th. Truist Financial raised their target price on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Wedbush upped their price target on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.10.

About Disc Medicine

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.