DNB Asset Management AS Raises Stock Holdings in Disc Medicine, Inc. $IRON

Key Points

• DNB Asset Management AS sharply increased its stake in Disc Medicine by 1,425.8% in the fourth quarter, ending with 84,255 shares valued at about $6.7 million.
• Institutional interest in IRON remains very high, with hedge funds and other institutions owning 83.7% of the company; several firms also made major new or larger purchases during the quarter.
• Disc Medicine reported a quarterly EPS loss of $1.65, missing estimates by $0.03, while analysts currently maintain a Moderate Buy consensus with a $105.30 average price target.

DNB Asset Management AS lifted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 1,425.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,255 shares of the company's stock after purchasing an additional 78,733 shares during the quarter. DNB Asset Management AS owned 0.22% of Disc Medicine worth $6,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of IRON. Jennison Associates LLC purchased a new position in shares of Disc Medicine during the fourth quarter worth about $42,252,000. Pictet Asset Management Holding SA boosted its stake in Disc Medicine by 10,968.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 394,374 shares of the company's stock worth $31,317,000 after buying an additional 390,811 shares in the last quarter. Vestal Point Capital LP boosted its stake in Disc Medicine by 257.1% in the third quarter. Vestal Point Capital LP now owns 500,000 shares of the company's stock worth $33,040,000 after buying an additional 360,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Disc Medicine by 3,329.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 357,836 shares of the company's stock worth $28,416,000 after buying an additional 347,403 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in Disc Medicine in the third quarter worth approximately $22,342,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Trading Down 0.0%

NASDAQ IRON opened at $66.85 on Tuesday. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The stock has a market cap of $2.55 billion, a P/E ratio of -10.10 and a beta of 0.93. The stock's fifty day moving average price is $65.55 and its 200-day moving average price is $75.03. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($1.65) EPS for the quarter, missing analysts' consensus estimates of ($1.62) by ($0.03). As a group, equities analysts forecast that Disc Medicine, Inc. will post -6.78 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In related news, insider William Jacob Savage sold 5,731 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $66.38, for a total transaction of $380,423.78. Following the sale, the insider directly owned 79,480 shares of the company's stock, valued at $5,275,882.40. This trade represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jean M. Franchi sold 6,257 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $69.24, for a total value of $433,234.68. Following the sale, the chief financial officer directly owned 64,333 shares in the company, valued at $4,454,416.92. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,200 shares of company stock worth $1,815,292 over the last ninety days. 3.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on IRON. Wells Fargo & Company upped their target price on Disc Medicine from $78.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Stifel Nicolaus decreased their target price on Disc Medicine from $125.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Wedbush decreased their target price on Disc Medicine from $110.00 to $88.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. BMO Capital Markets decreased their target price on Disc Medicine from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Disc Medicine from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Ten equities 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.30.

Disc Medicine 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.

Want to see what other hedge funds are holding IRON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Disc Medicine, Inc. (NASDAQ:IRON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.