Verition Fund Management LLC Makes New Investment in Disc Medicine, Inc. (NASDAQ:IRON)

Verition Fund Management LLC bought a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,980 shares of the company's stock, valued at approximately $589,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRON. Frazier Life Sciences Management L.P. raised its position in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company's stock worth $79,090,000 after buying an additional 969,834 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of Disc Medicine in the second quarter worth $41,690,000. Point72 Asset Management L.P. purchased a new position in shares of Disc Medicine during the second quarter worth $34,318,000. Deerfield Management Company L.P. Series C lifted its position in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company's stock valued at $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, Atlas Venture Life Science Advisors LLC boosted its holdings in Disc Medicine by 9.7% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company's stock valued at $113,101,000 after purchasing an additional 222,223 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.

Disc Medicine Trading Down 2.3 %

NASDAQ:IRON traded down $1.54 during trading hours on Wednesday, reaching $65.93. 460,755 shares of the company were exchanged, compared to its average volume of 348,377. The firm has a market cap of $1.96 billion, a PE ratio of -16.57 and a beta of 0.75. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60. The stock's 50-day moving average is $56.55 and its 200-day moving average is $49.18.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($1.04) by $0.15. As a group, research analysts anticipate that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IRON shares. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Scotiabank lifted their price target on Disc Medicine from $62.00 to $70.00 and gave the company a "sector outperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $89.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, HC Wainwright reiterated a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Monday. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $87.50.

Insider Buying and Selling at Disc Medicine

In related news, insider William Jacob Savage sold 14,183 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $65.45, for a total transaction of $928,277.35. Following the completion of the sale, the insider now owns 40,405 shares of the company's stock, valued at approximately $2,644,507.25. This represents a 25.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders sold 32,836 shares of company stock valued at $2,038,816 over the last quarter. 4.24% of the stock is currently owned by insiders.

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.