Wellington Management Group LLP Acquires 83,731 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Wellington Management Group LLP boosted its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,840,226 shares of the company’s stock after buying an additional 83,731 shares during the period. Wellington Management Group LLP owned 0.06% of Disc Medicine worth $90,429,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IRON. Point72 Asset Management L.P. acquired a new stake in Disc Medicine during the 2nd quarter valued at approximately $34,318,000. Frazier Life Sciences Management L.P. increased its position in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares during the period. Blue Owl Capital Holdings LP increased its position in Disc Medicine by 38.6% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after purchasing an additional 60,000 shares during the period. Deerfield Management Company L.P. Series C increased its position in Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Victory Capital Management Inc. increased its position in Disc Medicine by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after purchasing an additional 98,988 shares during the period. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Trading Up 4.3 %

Shares of NASDAQ:IRON opened at $67.47 on Wednesday. The stock’s fifty day simple moving average is $56.26 and its two-hundred day simple moving average is $49.06. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $2.01 billion, a PE ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Tuesday, November 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Monday. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and an average target price of $87.50.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Jacob Savage sold 14,183 shares of the business’s 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 $2,644,507.25. This represents a 25.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,836 shares of company stock worth $2,038,816 in the last ninety days. Company insiders own 4.24% of the company’s stock.

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.