Baker BROS. Advisors LP Makes New Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Baker BROS. Advisors LP purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,050 shares of the company's stock, valued at approximately $4,885,000. Baker BROS. Advisors LP owned approximately 0.26% of Disc Medicine at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Barclays PLC boosted its stake in Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after acquiring an additional 22,202 shares during the period. JPMorgan Chase & Co. boosted its stake in Disc Medicine by 16.1% during 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 during the period. SG Americas Securities LLC increased its stake in shares of Disc Medicine by 66.0% in the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company's stock valued at $512,000 after purchasing an additional 3,212 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock valued at $400,000 after buying an additional 593 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of Disc Medicine during the fourth quarter worth approximately $486,000. Institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Down 12.1 %

IRON stock traded down $5.89 during midday trading on Tuesday, hitting $42.71. 800,676 shares of the company traded hands, compared to its average volume of 346,943. The business has a 50 day simple moving average of $47.60 and a 200-day simple moving average of $55.03. Disc Medicine, Inc. has a twelve month low of $28.25 and a twelve month high of $68.73. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -10.73 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.08. Equities research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank raised their target price on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, TD Cowen assumed coverage on Disc Medicine in a research report on Thursday, February 27th. They issued a "buy" rating on the stock. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $93.80.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 5,574 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares of the company's stock, valued at $8,450,512.24. This represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela Stephenson sold 3,137 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the completion of the sale, the insider now owns 69,529 shares in the company, valued at $3,794,892.82. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,190 shares of company stock worth $19,231,544 in the last 90 days. 4.24% of the stock is owned by company insiders.

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.