Woodline Partners LP Grows Position 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 lifted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 502,230 shares of the company's stock after buying an additional 105,630 shares during the quarter. Woodline Partners LP owned approximately 1.45% of Disc Medicine worth $24,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IRON. RA Capital Management L.P. acquired a new position in shares of Disc Medicine during the first quarter worth about $78,288,000. Siren L.L.C. acquired a new stake in Disc Medicine during the first quarter worth approximately $53,207,000. 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 worth $116,331,000 after buying an additional 948,094 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Disc Medicine by 62.4% during 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 during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Disc Medicine by 22.2% in the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after buying an additional 236,800 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 price target for the company. Morgan Stanley boosted their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Wedbush reissued an "outperform" rating and issued a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $98.30.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded down $0.47 during trading hours on Friday, hitting $59.82. 178,558 shares of the company were exchanged, compared to its average volume of 279,542. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $59.16 and a 200-day moving average of $52.28. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -13.38 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released 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). As a group, analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, 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 transaction of $119,829.00. Following the completion of the sale, the chief financial officer owned 63,499 shares in the company, valued at $3,746,441. This represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Bitterman sold 2,287 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $61.03, for a total value of $139,575.61. Following the sale, the director owned 590,621 shares of the company's stock, valued at $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 132,913 shares of company stock worth $7,856,571 over the last 90 days. 3.64% of the stock is currently owned by 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.