Assenagon Asset Management S.A. Grows Position in Disc Medicine, Inc. $IRON

Assenagon Asset Management S.A. grew its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 52.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 546,247 shares of the company’s stock after buying an additional 188,411 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Disc Medicine were worth $34,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRON. Arizona State Retirement System boosted its position in Disc Medicine by 2.2% during the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock worth $540,000 after acquiring an additional 144 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Disc Medicine by 3.3% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after acquiring an additional 215 shares in the last quarter. Avanza Fonder AB raised its holdings in Disc Medicine by 14.1% in the 4th quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock valued at $151,000 after acquiring an additional 235 shares during the last quarter. Kennedy Capital Management LLC lifted its stake in Disc Medicine by 3.3% in the 4th quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock worth $740,000 after purchasing an additional 296 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Disc Medicine by 1.7% in the 3rd quarter. Alliancebernstein L.P. now owns 24,540 shares of the company’s stock worth $1,622,000 after purchasing an additional 400 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 9,700 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $72.66, for a total transaction of $704,802.00. Following the sale, the chief operating officer owned 54,324 shares of the company’s stock, valued at approximately $3,947,181.84. This represents a 15.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the completion of the sale, the insider owned 52,173 shares in the company, valued at approximately $3,663,588.06. The trade was a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 82,200 shares of company stock valued at $5,747,615. Insiders own 3.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Wedbush reiterated an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a research report on Wednesday, June 10th. Truist Financial lowered their price objective on Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Morgan Stanley upped their target price on Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, Wells Fargo & Company raised their target price on Disc Medicine from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.80.

Disc Medicine Trading Up 6.6%

Shares of IRON stock opened at $74.78 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. The stock has a market capitalization of $2.85 billion, a P/E ratio of -11.30 and a beta of 0.93. The company has a 50 day moving average price of $68.88 and a 200 day moving average price of $71.04. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50.

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

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.