Wellington Management Group LLP Purchases 11,475 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Wellington Management Group LLP grew its position in Disc Medicine, Inc. (NASDAQ:IRON) by 26.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,745 shares of the company’s stock after acquiring an additional 11,475 shares during the period. Wellington Management Group LLP owned about 0.23% of Disc Medicine worth $2,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio bought a new position in shares of Disc Medicine in the 3rd quarter valued at about $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Disc Medicine in the 2nd quarter valued at about $28,000. California State Teachers Retirement System bought a new position in shares of Disc Medicine in the 2nd quarter valued at about $114,000. Bank of America Corp DE grew its position in shares of Disc Medicine by 134,000.0% in the 1st quarter. Bank of America Corp DE now owns 2,682 shares of the company’s stock valued at $57,000 after acquiring an additional 2,680 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Disc Medicine by 12,203.8% during the 2nd quarter. Wells Fargo & Company MN now owns 3,199 shares of the company’s stock worth $142,000 after buying an additional 3,173 shares during the period. Institutional investors own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on IRON shares. BMO Capital Markets lifted their target price on shares of Disc Medicine from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Wednesday, December 20th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a report on Friday, March 22nd. Morgan Stanley downgraded shares of Disc Medicine from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $56.00 to $65.00 in a report on Tuesday, December 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $84.00 target price (up previously from $79.00) on shares of Disc Medicine in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus target price of $74.86.

Disc Medicine Stock Up 0.3 %

Shares of Disc Medicine stock opened at $60.51 on Thursday. Disc Medicine, Inc. has a twelve month low of $18.25 and a twelve month high of $77.60. The company has a 50-day simple moving average of $65.56 and a two-hundred day simple moving average of $57.16. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -17.34 and a beta of 0.20.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the transaction, the director now directly owns 786,160 shares in the company, valued at approximately $50,314,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the transaction, the director now directly owns 786,160 shares in the company, valued at approximately $50,314,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the transaction, the insider now owns 1,402,186 shares of the company’s stock, valued at $94,857,882.90. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $13,347,500 in the last quarter. 4.71% of the stock is currently owned by corporate insiders.

About Disc Medicine

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.