Woodline Partners LP Has $24.93 Million Stock Holdings in Disc Medicine, Inc. $IRON

Key Points

• Woodline Partners LP increased its ownership in Disc Medicine, Inc. by 26.6%, bringing its total shares to 502,230, valued at approximately $24.9 million.
• Analyst reports indicate a consensus rating of "Buy" for Disc Medicine, with target prices ranging from $86.00 to $118.00.
• Insider selling activity included Director Kevin Bitterman selling 29,837 shares for over $1.8 million, decreasing his position by 4.41%.

Woodline Partners LP grew its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 26.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 502,230 shares of the company's stock after acquiring an additional 105,630 shares during the period. Woodline Partners LP owned about 1.45% of Disc Medicine worth $24,931,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. RA Capital Management L.P. acquired a new position in Disc Medicine in the 1st quarter worth $78,288,000. Siren L.L.C. acquired a new position in Disc Medicine in the 1st quarter worth $53,207,000. Wellington Management Group LLP lifted its holdings in Disc Medicine by 67.9% in the 1st 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. Janus Henderson Group PLC lifted its holdings in Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after buying an additional 467,988 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Disc Medicine by 22.2% in the 1st 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. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Stock Performance

NASDAQ IRON traded down $1.19 on Monday, hitting $58.64. The stock had a trading volume of 149,712 shares, compared to its average volume of 391,554. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $68.73. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -13.12 and a beta of 0.77. The company's 50-day moving average is $59.16 and its two-hundred day moving average is $52.25.

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 for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). On average, analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial assumed coverage on shares of Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective on the stock. Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Morgan Stanley boosted 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. Raymond James Financial assumed coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. 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 MarketBeat.com, Disc Medicine has a consensus rating of "Buy" and a consensus target price of $98.30.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 34,800 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total value of $1,925,484.00. Following the completion of the sale, the chief executive officer owned 161,828 shares in the company, valued at approximately $8,953,943.24. This represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Bitterman sold 2,287 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the sale, the director owned 590,621 shares of the company's stock, valued at approximately $36,045,599.63. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,913 shares of company stock valued at $7,752,051 over the last ninety days. Insiders own 3.64% of the company's stock.

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.