Wellington Management Group LLP Raises Stock Position in Disc Medicine, Inc. $IRON

Key Points

• Wellington Management Group LLP increased its position in Disc Medicine, Inc. by 67.9% during Q1, holding approximately 6.78% of the company, valued at over $116 million.
• Disc Medicine's stock recently opened at $59.75 and has experienced a 12-month high of $68.73, with analysts projecting a consensus target price of $98.30.
• Insider transactions revealed that Director Kevin Bitterman sold nearly 30,000 shares, representing a 4.41% decrease in his ownership stake.

Wellington Management Group LLP raised its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 67.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,343,499 shares of the company's stock after acquiring an additional 948,094 shares during the quarter. Wellington Management Group LLP owned approximately 6.78% of Disc Medicine worth $116,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp boosted its stake in Disc Medicine by 11.7% in the first quarter. Northern Trust Corp now owns 208,813 shares of the company's stock valued at $10,365,000 after acquiring an additional 21,796 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Disc Medicine by 13,428.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock valued at $47,000 after purchasing an additional 940 shares during the period. Nuveen LLC acquired a new position in Disc Medicine during the first quarter worth $5,595,000. Invesco Ltd. raised its position in shares of Disc Medicine by 27.1% during the 1st quarter. Invesco Ltd. now owns 13,834 shares of the company's stock worth $687,000 after purchasing an additional 2,953 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Disc Medicine by 11.5% in the first quarter. Swiss National Bank now owns 35,900 shares of the company's stock worth $1,782,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Up 1.8%

IRON stock opened at $59.75 on Friday. 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 company's 50 day simple moving average is $56.73 and its 200-day simple moving average is $51.65. The firm has a market capitalization of $2.08 billion, a PE ratio of -13.37 and a beta of 0.77. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73.

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

Analyst Ratings Changes

IRON has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. BMO Capital Markets raised their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Morgan Stanley lifted their price objective on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday. Raymond James Financial began coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price on the stock. Finally, Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, July 21st. One 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, Disc Medicine currently has an average rating of "Buy" and a consensus target price of $98.30.

Insider Transactions at Disc Medicine

In related news, Director Kevin Bitterman sold 29,837 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.97, for a total transaction of $1,819,161.89. Following the sale, the director directly owned 647,002 shares of the company's stock, valued at approximately $39,447,711.94. This represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William Jacob Savage sold 2,996 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $50.00, for a total value of $149,800.00. Following the transaction, the insider directly owned 56,725 shares in the company, valued at $2,836,250. This trade represents a 5.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,622 shares of company stock worth $7,866,795. 3.64% of the stock is currently owned by corporate insiders.

About Disc Medicine

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.

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