Wellington Management Group LLP Sells 444,821 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Wellington Management Group LLP lessened its position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 24.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,395,405 shares of the company's stock after selling 444,821 shares during the quarter. Wellington Management Group LLP owned about 4.04% of Disc Medicine worth $88,469,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after acquiring an additional 266 shares during the period. Teacher Retirement System of Texas lifted its position in Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after acquiring an additional 396 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after buying an additional 503 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Disc Medicine by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company's stock valued at $400,000 after buying an additional 593 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Trading Down 0.2%

IRON stock traded down $0.11 during trading hours on Friday, hitting $46.76. 437,325 shares of the stock traded hands, compared to its average volume of 346,798. The stock has a 50-day simple moving average of $45.07 and a 200 day simple moving average of $54.14. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $68.73. The company has a market cap of $1.62 billion, a P/E ratio of -11.75 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IRON. Cantor Fitzgerald lifted their price objective on Disc Medicine from $99.00 to $132.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Morgan Stanley reaffirmed an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. TD Cowen initiated coverage on Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating on the stock. BMO Capital Markets boosted their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $98.80.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 6,677 shares of Disc Medicine stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total value of $334,117.08. Following the transaction, the insider now directly owns 59,721 shares of the company's stock, valued at $2,988,438.84. The trade was a 10.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mona Ashiya sold 202,146 shares of Disc Medicine stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34. Following the completion of the transaction, the director now directly owns 208,742 shares in the company, valued at approximately $11,332,603.18. This represents a 49.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,510 shares of company stock valued at $18,936,535. 4.24% of the stock is owned by corporate insiders.

Disc Medicine Company 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.