Disc Medicine, Inc. (NASDAQ:IRON) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,840,226 shares of the company's stock after acquiring an additional 83,731 shares during the quarter. Wellington Management Group LLP owned approximately 6.19% of Disc Medicine worth $90,429,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of IRON. Amalgamated Bank raised its stake in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after buying an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock worth $54,000 after acquiring an additional 337 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Disc Medicine during the second quarter worth $129,000. Quest Partners LLC purchased a new position in Disc Medicine during the third quarter valued at $131,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Disc Medicine in the third quarter valued at about $146,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the completion of the sale, the insider now directly owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,836 shares of company stock worth $2,038,816 in the last 90 days. Insiders own 4.24% of the company's stock.

Disc Medicine Stock Down 2.3 %

Shares of IRON traded down $1.54 during midday trading on Wednesday, reaching $65.93. The company had a trading volume of 460,755 shares, compared to its average volume of 348,377. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The firm has a 50 day simple moving average of $56.26 and a 200-day simple moving average of $49.06. The stock has a market cap of $1.96 billion, a PE ratio of -16.95 and a beta of 0.75.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on IRON shares. Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a research report on Tuesday, November 5th. Wedbush reissued an "outperform" rating and set a $83.00 target price on shares of Disc Medicine in a report on Monday. Jefferies Financial Group began coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $89.00 price target on the stock. Raymond James raised Disc Medicine from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Monday. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $87.50.

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.