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

Jennison Associates LLC lifted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 349.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 193,240 shares of the company’s stock after purchasing an additional 150,209 shares during the quarter. Jennison Associates LLC owned about 0.80% of Disc Medicine worth $12,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Perceptive Advisors LLC lifted its stake in Disc Medicine by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after acquiring an additional 130,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Disc Medicine by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 665,452 shares of the company’s stock worth $31,263,000 after acquiring an additional 105,685 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Disc Medicine during the 3rd quarter worth about $1,973,000. Finally, Wellington Management Group LLP lifted its stake in Disc Medicine by 26.5% during the 3rd quarter. Wellington Management Group LLP now owns 54,745 shares of the company’s stock worth $2,572,000 after acquiring an additional 11,475 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded down $0.95 during midday trading on Tuesday, hitting $46.55. 208,609 shares of the company’s stock were exchanged, compared to its average volume of 416,472. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60. The company has a market cap of $1.15 billion, a PE ratio of -14.05 and a beta of 0.57. The firm’s fifty day simple moving average is $37.22 and its 200-day simple moving average is $49.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Equities analysts anticipate that Disc Medicine, Inc. will post -4.47 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IRON. Raymond James increased their target price on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, May 28th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target (up previously from $43.00) on shares of Disc Medicine in a research report on Friday, June 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Finally, Morgan Stanley reduced their price target on Disc Medicine from $75.00 to $40.00 and set an “equal weight” 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.57.

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.