181,818 Shares in Disc Medicine, Inc. $IRON Acquired by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC has acquired 181,818 shares of Disc Medicine, Inc. for approximately $9.0 million, marking a new position in the clinical-stage biopharmaceutical company.
• Disc Medicine's shares are currently valued at about $60.19, experiencing a 2.3% decline, with a 52-week range of $30.82 to $68.73.
• Analysts have a consensus rating of "Buy" for Disc Medicine, with target prices ranging from $85 to $118, indicating positive future expectations for the company.

Eventide Asset Management LLC purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 181,818 shares of the company's stock, valued at approximately $9,025,000. Eventide Asset Management LLC owned about 0.53% of Disc Medicine as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of IRON. Wellington Management Group LLP lifted its position in shares of Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after acquiring an additional 948,094 shares during the last quarter. RA Capital Management L.P. acquired a new stake in shares of Disc Medicine during the first quarter worth $78,288,000. Vanguard Group Inc. lifted its holdings in shares of Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after purchasing an additional 236,800 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock valued at $77,170,000 after purchasing an additional 467,988 shares during the period. Finally, Siren L.L.C. acquired a new position in shares of Disc Medicine in the 1st quarter valued at $53,207,000. Institutional investors own 83.70% of the company's stock.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the transaction, the chief financial officer owned 63,499 shares in the company, valued at $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin Bitterman sold 29,837 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $60.97, for a total value of $1,819,161.89. Following the completion of the transaction, the director directly owned 647,002 shares in the company, valued at approximately $39,447,711.94. The trade was a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,913 shares of company stock worth $7,856,571 over the last 90 days. 3.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

IRON has been the topic of several recent analyst reports. Truist Financial initiated coverage on Disc Medicine in a report on Monday, July 21st. They set a "buy" rating and a $86.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. Raymond James Financial began coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $98.30.

Disc Medicine Stock Down 2.5%

Disc Medicine stock traded down $1.57 during trading hours on Tuesday, hitting $60.34. The company had a trading volume of 571,992 shares, compared to its average volume of 396,144. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $68.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm has a market capitalization of $2.10 billion, a P/E ratio of -13.50 and a beta of 0.77. The firm's fifty day moving average is $58.62 and its 200-day moving average is $52.09.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Disc Medicine 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.