Disc Medicine, Inc. (NASDAQ:IRON) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in Disc Medicine, Inc. (NASDAQ:IRON) by 32.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,459 shares of the company’s stock after purchasing an additional 9,394 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Disc Medicine worth $2,438,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in Disc Medicine in the 4th quarter valued at about $5,479,000. Barclays PLC grew its position in shares of Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after purchasing an additional 22,202 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Disc Medicine during the 4th quarter worth approximately $5,579,000. KLP Kapitalforvaltning AS purchased a new stake in Disc Medicine in the 4th quarter valued at approximately $235,000. Finally, Wells Fargo & Company MN grew its holdings in Disc Medicine by 60.2% during the 4th quarter. Wells Fargo & Company MN now owns 20,778 shares of the company’s stock valued at $1,317,000 after buying an additional 7,808 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Insider Activity

In related news, Director Mona Ashiya sold 5,738 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the sale, the director now directly owns 186,541 shares in the company, valued at approximately $10,093,733.51. This trade represents a 2.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Jacob Savage sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now directly owns 66,398 shares in the company, valued at $3,331,187.66. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,290 shares of company stock valued at $19,336,901. Company insiders own 4.24% of the company’s stock.

Analyst Upgrades and Downgrades

IRON has been the topic of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Scotiabank boosted their price target on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine has an average rating of “Buy” and an average target price of $93.80.

Disc Medicine Trading Down 0.1 %

IRON stock opened at $44.24 on Friday. The company has a market cap of $1.53 billion, a PE ratio of -11.12 and a beta of 0.77. The stock has a 50-day moving average price of $46.93 and a two-hundred day moving average price of $54.92. Disc Medicine, Inc. has a 12-month low of $30.65 and a 12-month high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). Equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

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.