Eventide Asset Management LLC Raises Holdings in Disc Medicine, Inc. $IRON

Eventide Asset Management LLC lifted its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 28.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 395,392 shares of the company’s stock after buying an additional 87,349 shares during the period. Eventide Asset Management LLC owned about 1.05% of Disc Medicine worth $31,398,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Disc Medicine by 22.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after purchasing an additional 2,807 shares in the last quarter. Millennium Management LLC increased its stake in Disc Medicine by 1,277.1% in the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Disc Medicine by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after purchasing an additional 3,454 shares in the last quarter. Legal & General Group Plc increased its stake in Disc Medicine by 18.0% in the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Disc Medicine by 21.6% in the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after purchasing an additional 2,983 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Disc Medicine news, insider William Jacob Savage sold 5,731 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $66.38, for a total transaction of $380,423.78. Following the sale, the insider owned 79,480 shares in the company, valued at approximately $5,275,882.40. This represents a 6.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jean M. Franchi sold 6,257 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $69.24, for a total value of $433,234.68. Following the sale, the chief financial officer owned 64,333 shares in the company, valued at approximately $4,454,416.92. This trade represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,388 shares of company stock worth $841,258. 3.76% of the stock is owned by insiders.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $67.99 on Friday. The business’s fifty day moving average price is $68.16 and its two-hundred day moving average price is $72.57. The stock has a market cap of $2.59 billion, a PE ratio of -10.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, May 5th. The company reported ($1.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). On average, analysts forecast that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IRON shares. Stifel Nicolaus dropped their price objective on Disc Medicine from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Wedbush reaffirmed an “outperform” rating and issued a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday. BMO Capital Markets dropped their price objective on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Morgan Stanley raised their price objective on Disc Medicine from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company raised their price objective on Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and an average target price of $105.30.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.