735,300 Disc Medicine, Inc. $IRON Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 191.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,119,458 shares of the company's stock after buying an additional 735,300 shares during the quarter. Assenagon Asset Management S.A. owned about 2.92% of Disc Medicine worth $73,280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Disc Medicine in the 2nd quarter worth approximately $180,502,000. Wellington Management Group LLP increased its position in shares of Disc Medicine by 0.3% during the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock valued at $127,362,000 after buying an additional 5,975 shares during the period. Opaleye Management Inc. lifted its holdings in shares of Disc Medicine by 103.1% in the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock worth $62,535,000 after buying an additional 434,000 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Disc Medicine by 14.7% in the first quarter. Jennison Associates LLC now owns 610,382 shares of the company's stock worth $39,028,000 after buying an additional 78,303 shares in the last quarter. Finally, Palo Alto Investors LP bought a new position in shares of Disc Medicine in the second quarter valued at approximately $30,473,488. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Trading Up 0.3%

Shares of Disc Medicine stock opened at $56.84 on Friday. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The stock has a market capitalization of $217.70 million, a PE ratio of -8.64 and a beta of 0.93. The company's fifty day simple moving average is $71.55 and its 200-day simple moving average is $71.11.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. As a group, equities analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Disc Medicine in a research note on Monday, August 17th. Wedbush reiterated an "outperform" rating and issued a $100.00 target price on shares of Disc Medicine in a research note on Thursday, September 10th. BMO Capital Markets reiterated an "outperform" rating on shares of Disc Medicine in a research note on Thursday, September 10th. Wall Street Zen downgraded shares of Disc Medicine from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Jefferies Financial Group restated a "buy" rating and set a $128.00 price target on shares of Disc Medicine in a research report on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Disc Medicine has an average rating of "Moderate Buy" and a consensus target price of $105.90.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John Quisel sold 33,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $79.15, for a total value of $2,611,950.00. Following the completion of the sale, the chief executive officer directly owned 226,064 shares in the company, valued at approximately $17,892,965.60. This represents a 12.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Yu sold 8,796 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the transaction, the chief operating officer directly owned 54,324 shares of the company's stock, valued at $4,515,410.88. This trade represents a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 131,221 shares of company stock worth $10,239,760. Insiders own 3.76% of the company's stock.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.

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