MPM Bioimpact LLC Has $21.96 Million Position in Disc Medicine, Inc. (NASDAQ:IRON)

MPM Bioimpact LLC lifted its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,401 shares of the company's stock after purchasing an additional 34,640 shares during the period. Disc Medicine comprises 3.1% of MPM Bioimpact LLC's investment portfolio, making the stock its 7th largest holding. MPM Bioimpact LLC owned approximately 1.16% of Disc Medicine worth $21,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after acquiring an additional 503 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Disc Medicine in the 4th quarter worth $235,000. Fiduciary Trust Co bought a new position in Disc Medicine during the 4th quarter valued at $257,000. Finally, Bayesian Capital Management LP purchased a new position in Disc Medicine during the 4th quarter worth $285,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Stock Performance

Disc Medicine stock traded up $0.75 during mid-day trading on Monday, reaching $48.84. The company's stock had a trading volume of 135,874 shares, compared to its average volume of 349,144. Disc Medicine, Inc. has a 12-month low of $30.65 and a 12-month high of $68.73. The company has a market capitalization of $1.69 billion, a P/E ratio of -12.27 and a beta of 0.77. The firm's fifty day moving average price is $46.10 and its two-hundred day moving average price is $55.02.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). On average, research analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider William Jacob Savage sold 2,100 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the completion of the transaction, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mona Ashiya sold 10,011 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.00, for a total value of $540,594.00. Following the completion of the sale, the director now owns 187,297 shares of the company's stock, valued at $10,114,038. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,290 shares of company stock worth $19,336,901 in the last quarter. 4.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Morgan Stanley reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research report on Friday, March 7th. HC Wainwright reissued a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. BMO Capital Markets lifted their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, Scotiabank lifted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $98.80.

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.