Jennison Associates LLC Buys 78,303 Shares of Disc Medicine, Inc. $IRON

Jennison Associates LLC boosted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 14.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 610,382 shares of the company’s stock after acquiring an additional 78,303 shares during the quarter. Jennison Associates LLC owned 1.60% of Disc Medicine worth $39,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in Disc Medicine by 202.7% in the first quarter. Bank of New York Mellon Corp now owns 204,968 shares of the company’s stock valued at $13,106,000 after purchasing an additional 137,261 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Disc Medicine by 17.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 18,993 shares of the company’s stock worth $1,214,000 after purchasing an additional 2,837 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Disc Medicine by 52.7% in the first quarter. Assenagon Asset Management S.A. now owns 546,247 shares of the company’s stock worth $34,927,000 after buying an additional 188,411 shares during the period. Invesco Ltd. increased its stake in shares of Disc Medicine by 184.8% in the fourth quarter. Invesco Ltd. now owns 61,070 shares of the company’s stock worth $4,850,000 after buying an additional 39,627 shares during the period. Finally, KVP Capital Advisors LP bought a new stake in Disc Medicine during the 4th quarter valued at $4,626,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Rahul Khara sold 1,649 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $75.00, for a total transaction of $123,675.00. Following the sale, the insider owned 52,173 shares of the company’s stock, valued at $3,912,975. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John D. Quisel sold 33,000 shares of the company’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $74.96, for a total transaction of $2,473,680.00. Following the completion of the sale, the chief executive officer owned 226,064 shares in the company, valued at approximately $16,945,757.44. This trade represents a 12.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 105,712 shares of company stock worth $7,597,536. Corporate insiders own 3.76% of the company’s stock.

Disc Medicine Trading Down 2.3%

IRON opened at $74.38 on Tuesday. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. Disc Medicine, Inc. has a 52 week low of $40.00 and a 52 week high of $99.50. The stock has a market cap of $2.84 billion, a PE ratio of -11.24 and a beta of 0.97. The business has a 50 day moving average of $71.30 and a 200-day moving average of $69.85.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.62) by ($0.03). Equities research analysts predict that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRON has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a research report on Wednesday, June 10th. Morgan Stanley upped their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.44.

Disc Medicine Company Profile

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.