Ally Bridge Group NY LLC Has $4.91 Million Stake in Disc Medicine, Inc. (NASDAQ:IRON)

Ally Bridge Group NY LLC lessened its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 39.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,000 shares of the company's stock after selling 66,500 shares during the quarter. Disc Medicine accounts for about 2.6% of Ally Bridge Group NY LLC's holdings, making the stock its 21st biggest position. Ally Bridge Group NY LLC owned approximately 0.34% of Disc Medicine worth $4,914,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of IRON. Atlas Venture Life Science Advisors LLC boosted its holdings in shares of Disc Medicine by 9.7% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company's stock worth $113,101,000 after buying an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company's stock worth $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C grew its holdings in Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company's stock worth $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company's stock valued at $58,788,000 after acquiring an additional 353,382 shares in the last quarter. Finally, Logos Global Management LP bought a new position in shares of Disc Medicine in the second quarter worth about $41,690,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 14,183 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the transaction, the insider now directly owns 40,405 shares of the company's stock, valued at $2,644,507.25. This represents a 25.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Richard White sold 7,136 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,879 shares of company stock worth $1,912,335. Company insiders own 4.24% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IRON. Morgan Stanley raised shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. HC Wainwright upped their target price on shares of Disc Medicine from $70.00 to $118.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Scotiabank lifted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $89.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They set an "overweight" rating and a $75.00 price objective on the stock. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $85.80.

Disc Medicine Stock Up 3.0 %

Shares of NASDAQ:IRON traded up $1.90 during midday trading on Thursday, reaching $64.55. The company had a trading volume of 143,654 shares, compared to its average volume of 353,419. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $1.92 billion, a PE ratio of -16.22 and a beta of 0.60. The business's 50 day moving average price is $53.42 and its 200 day moving average price is $46.92.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, research analysts expect that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

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.