Jennison Associates LLC Takes Position in Disc Medicine, Inc. (NASDAQ:IRON)

Jennison Associates LLC bought a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 43,031 shares of the company's stock, valued at approximately $2,485,000. Jennison Associates LLC owned 0.18% of Disc Medicine as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Strs Ohio grew its holdings in Disc Medicine by 66.7% in the fourth quarter. Strs Ohio now owns 1,000 shares of the company's stock valued at $57,000 after purchasing an additional 400 shares during the period. Simplicity Solutions LLC purchased a new stake in Disc Medicine during the fourth quarter worth approximately $215,000. Bleakley Financial Group LLC purchased a new stake in Disc Medicine during the fourth quarter worth approximately $215,000. China Universal Asset Management Co. Ltd. purchased a new stake in Disc Medicine during the fourth quarter worth approximately $161,000. Finally, Legato Capital Management LLC purchased a new stake in Disc Medicine during the fourth quarter worth approximately $305,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Disc Medicine from $75.00 to $40.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 2nd. Raymond James reissued an "outperform" rating and set a $40.00 target price (down from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. Wedbush reissued an "outperform" rating and set a $43.00 target price (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Stifel Nicolaus boosted their target price on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Finally, BMO Capital Markets reduced their target price on shares of Disc Medicine from $80.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.29.

Disc Medicine Stock Up 3.9 %

IRON stock traded up $1.03 during trading on Friday, hitting $27.55. 368,874 shares of the company's stock traded hands, compared to its average volume of 802,721. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60. The stock has a fifty day moving average price of $50.99 and a two-hundred day moving average price of $54.67. The stock has a market capitalization of $665.06 million, a price-to-earnings ratio of -7.89 and a beta of 0.18.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.22). As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.44 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the company's stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.71% of the company's stock.

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.