Virtus ETF Advisers LLC Lowers Position in Disc Medicine, Inc. (NASDAQ:IRON)

Virtus ETF Advisers LLC reduced its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 53.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,106 shares of the company’s stock after selling 1,247 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Disc Medicine were worth $70,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its position in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after buying an additional 22,202 shares during the last quarter. Renaissance Technologies LLC bought a new position in Disc Medicine during the fourth quarter valued at about $5,479,000. Raymond James Financial Inc. purchased a new stake in Disc Medicine during the fourth quarter worth about $5,579,000. KLP Kapitalforvaltning AS bought a new stake in Disc Medicine in the fourth quarter worth about $235,000. Finally, Vanguard Group Inc. boosted its stake in Disc Medicine by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock valued at $67,727,000 after acquiring an additional 18,716 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Up 1.6 %

Shares of IRON stock opened at $46.16 on Tuesday. The stock has a market capitalization of $1.60 billion, a P/E ratio of -11.60 and a beta of 0.77. The firm’s 50 day moving average is $48.38 and its 200 day moving average is $55.12. Disc Medicine, Inc. has a 12 month low of $27.39 and a 12 month high of $68.73.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, equities analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. TD Cowen assumed coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Finally, Scotiabank boosted their target price on shares of 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $93.80.

Insider Buying and Selling

In related news, insider Pamela Stephenson sold 3,137 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,217.46. Following the sale, the insider now owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. This represents a 4.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mona Ashiya sold 5,738 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the sale, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,690 shares of company stock valued at $19,648,094. Company insiders own 4.24% of the company’s stock.

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.