Ensign Peak Advisors Inc Has $7.50 Million Stock Holdings in Disc Medicine, Inc. $IRON

Ensign Peak Advisors Inc grew its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 95.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,545 shares of the company’s stock after purchasing an additional 69,032 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Disc Medicine were worth $7,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RA Capital Management L.P. bought a new stake in Disc Medicine in the first quarter valued at about $78,288,000. Siren L.L.C. bought a new stake in shares of Disc Medicine in the 1st quarter valued at about $53,207,000. Wellington Management Group LLP raised its position in shares of Disc Medicine by 67.9% in the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after acquiring an additional 948,094 shares during the period. Vanguard Group Inc. boosted its stake in Disc Medicine by 22.2% during the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock worth $64,782,000 after acquiring an additional 236,800 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in Disc Medicine during the first quarter valued at approximately $9,025,000. 83.70% of the stock is currently owned by institutional investors.

Insider Activity at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the sale, the chief operating officer owned 40,555 shares of the company’s stock, valued at $3,435,008.50. The trade was a 42.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Bitterman sold 70,000 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $88.91, for a total transaction of $6,223,700.00. Following the transaction, the director owned 385,549 shares of the company’s stock, valued at $34,279,161.59. The trade was a 15.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 213,585 shares of company stock worth $16,898,513 in the last 90 days. Company insiders own 3.64% of the company’s stock.

Disc Medicine Trading Up 1.6%

IRON opened at $94.11 on Tuesday. The stock has a market capitalization of $3.55 billion, a P/E ratio of -17.59 and a beta of 0.79. The company has a current ratio of 23.45, a quick ratio of 23.45 and a debt-to-equity ratio of 0.05. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $97.12. The firm’s fifty day simple moving average is $77.98 and its 200 day simple moving average is $63.12.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.29). As a group, research analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Disc Medicine from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Truist Financial upped their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Wedbush lifted their target price on Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Cantor Fitzgerald boosted their target price on Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Raymond James Financial increased their price target on Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.10.

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.