The Manufacturers Life Insurance Company Grows Stake in Disc Medicine, Inc. (NASDAQ:IRON)

The Manufacturers Life Insurance Company boosted its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,459 shares of the company's stock after purchasing an additional 9,394 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of Disc Medicine worth $2,438,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after buying an additional 266 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock valued at $308,000 after purchasing an additional 396 shares during the period. Sterling Capital Management LLC increased its stake in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after acquiring an additional 503 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock worth $400,000 after acquiring an additional 593 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in Disc Medicine by 6.6% in the 4th quarter. MetLife Investment Management LLC now owns 12,132 shares of the company's stock worth $769,000 after acquiring an additional 755 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Insider Activity at Disc Medicine

In related news, insider Pamela Stephenson sold 3,137 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 69,529 shares of the company's stock, valued at $3,794,892.82. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William Jacob Savage sold 2,100 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 66,398 shares of the company's stock, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,290 shares of company stock valued at $19,336,901 in the last 90 days. Corporate insiders own 4.24% of the company's stock.

Disc Medicine Stock Down 0.6%

Shares of NASDAQ:IRON traded down $0.27 during trading on Friday, hitting $46.82. The stock had a trading volume of 185,747 shares, compared to its average volume of 425,378. 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 $1.62 billion, a PE ratio of -11.81 and a beta of 0.77. The firm's fifty day moving average is $46.21 and its 200 day moving average is $54.87.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating for the company. HC Wainwright restated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Morgan Stanley restated an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Stifel Nicolaus increased their price objective on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $98.80.

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.