Assenagon Asset Management S.A. Grows Stock Holdings in Disc Medicine, Inc. $IRON

Key Points

• Assenagon Asset Management increased its stake in Disc Medicine by 52.7% in the first quarter, ending with 546,247 shares valued at about $34.9 million.
• Insiders have been selling shares: COO Jonathan Yen-Wen Yu and CEO John D. Quisel both reduced their holdings recently, and insiders sold a total of 82,200 shares worth about $5.75 million over the last 90 days.
• Wall Street remains cautiously positive, with 10 Buy ratings and a consensus Moderate Buy target of $105.80, even though Disc Medicine recently missed earnings estimates and reported a loss of $1.65 per share.

Assenagon Asset Management S.A. grew its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 52.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 546,247 shares of the company's stock after buying an additional 188,411 shares during the period. Assenagon Asset Management S.A. owned 1.43% of Disc Medicine worth $34,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System lifted its position in Disc Medicine by 2.2% during the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company's stock valued at $540,000 after acquiring an additional 144 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Disc Medicine by 3.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company's stock worth $533,000 after purchasing an additional 215 shares in the last quarter. Avanza Fonder AB boosted its position in shares of Disc Medicine by 14.1% in the 4th quarter. Avanza Fonder AB now owns 1,903 shares of the company's stock worth $151,000 after purchasing an additional 235 shares in the last quarter. Kennedy Capital Management LLC grew its stake in Disc Medicine by 3.3% during the 4th quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company's stock worth $740,000 after buying an additional 296 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Disc Medicine by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 24,540 shares of the company's stock worth $1,622,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Buying and Selling

In related news, COO Jonathan Yen-Wen Yu sold 9,700 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $72.66, for a total transaction of $704,802.00. Following the completion of the transaction, the chief operating officer owned 54,324 shares in the company, valued at $3,947,181.84. This represents a 15.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 34,000 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at $15,871,953.44. This represents a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,200 shares of company stock valued at $5,747,615 in the last 90 days. Corporate insiders own 3.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a research note on Monday, April 20th. Wall Street Zen upgraded Disc Medicine from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. Wells Fargo & Company upped their price objective on shares of Disc Medicine from $78.00 to $79.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Morgan Stanley increased their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. Finally, Wedbush reiterated an "outperform" rating and issued a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.80.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $74.78 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -11.30 and a beta of 0.93. The firm's 50 day simple moving average is $68.88 and its 200-day simple moving average is $71.04. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.62) by ($0.03). Analysts expect that Disc Medicine, Inc. will post -6.74 EPS for the current year.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

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