Siren L.L.C. Makes New Investment in Disc Medicine, Inc. $IRON

Key Points

• Siren L.L.C. invested approximately $53.21 million in Disc Medicine, acquiring over 1 million shares, which represents about 3.1% of its total holdings.
• Multiple institutional investors have increased their stakes in Disc Medicine, with Wellington Management Group significantly boosting its position by 67.9% in the first quarter.
• Disc Medicine reported a loss of $1.58 per share for the most recent quarter, missing analysts' expectations, and is projected to post a yearly EPS of -4.07.

Siren L.L.C. acquired a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,071,865 shares of the company's stock, valued at approximately $53,207,000. Disc Medicine makes up 3.1% of Siren L.L.C.'s holdings, making the stock its 7th largest holding. Siren L.L.C. owned 3.09% of Disc Medicine as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of Disc Medicine by 67.9% in the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after buying an additional 948,094 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Disc Medicine by 22.2% in the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after buying an additional 236,800 shares in the last quarter. Janus Henderson Group PLC raised its position in Disc Medicine by 62.4% during the fourth 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 in the last quarter. Woodline Partners LP raised its position in Disc Medicine by 5.2% during the fourth quarter. Woodline Partners LP now owns 396,600 shares of the company's stock valued at $25,144,000 after purchasing an additional 19,538 shares in the last quarter. Finally, MPM Bioimpact LLC raised its position in Disc Medicine by 11.1% during the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company's stock valued at $21,962,000 after purchasing an additional 34,640 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Buying and Selling

In other Disc Medicine news, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $61.03, for a total transaction of $139,575.61. Following the sale, the director directly owned 590,621 shares of the company's stock, valued at approximately $36,045,599.63. The trade was a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jean M. Franchi sold 2,031 shares of the company's stock in a transaction that occurred on 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. This trade represents a 3.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,909 shares of company stock valued at $8,006,371 over the last ninety days. 3.64% of the stock is owned by insiders.

Disc Medicine Trading Down 0.0%

Shares of NASDAQ:IRON traded down $0.01 on Friday, reaching $59.65. 214,790 shares of the company traded hands, compared to its average volume of 307,869. The business's 50-day simple moving average is $57.76 and its 200 day simple moving average is $51.82. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $68.73. The stock has a market capitalization of $2.07 billion, a P/E ratio of -13.34 and a beta of 0.77. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IRON shares. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. Morgan Stanley raised their price target on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Raymond James Financial started coverage on Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target on the stock. BMO Capital Markets raised their price target on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Truist Financial started coverage on Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $98.30.

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.