Verition Fund Management LLC Takes $589,000 Position in Disc Medicine, Inc. (NASDAQ:IRON)

Verition Fund Management LLC purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 11,980 shares of the company’s stock, valued at approximately $589,000.

Other hedge funds also recently bought and sold shares of the company. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% in 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 purchased a new position in Disc Medicine in the second quarter worth about $41,690,000. Point72 Asset Management L.P. bought a new stake in Disc Medicine during the second quarter worth approximately $34,318,000. Deerfield Management Company L.P. Series C raised 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 lifted its stake in shares of Disc Medicine by 9.7% in the 2nd 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. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $87.50.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $67.47 on Wednesday. The firm’s 50 day simple moving average is $56.26 and its 200-day simple moving average is $49.06. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The firm has a market cap of $2.01 billion, a PE ratio of -16.95 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Equities research analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

Insider Activity

In related news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction 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 sale, the insider now directly owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,836 shares of company stock worth $2,038,816. Company insiders own 4.24% of the company’s stock.

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.