Ally Bridge Group NY LLC Invests $7.50 Million in Disc Medicine, Inc. (NASDAQ:IRON)

Ally Bridge Group NY LLC purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 166,500 shares of the company’s stock, valued at approximately $7,504,000. Disc Medicine makes up about 4.5% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 9th largest holding. Ally Bridge Group NY LLC owned 0.67% of Disc Medicine at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank lifted its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Sofinnova Investments Inc. lifted its holdings in Disc Medicine by 373.9% in the second quarter. Sofinnova Investments Inc. now owns 29,256 shares of the company’s stock worth $1,319,000 after acquiring an additional 23,083 shares during the last quarter. Atlas Venture Life Science Advisors LLC boosted its stake 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 acquiring an additional 222,223 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Disc Medicine by 46.5% during the second quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after purchasing an additional 98,988 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Disc Medicine by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after purchasing an additional 1,468 shares during the period. 83.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IRON shares. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday. Wells Fargo & Company started coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Disc Medicine currently has an average rating of “Moderate Buy” and an average price target of $64.13.

Disc Medicine Stock Performance

IRON opened at $48.11 on Monday. The company has a market cap of $1.19 billion, a PE ratio of -14.23 and a beta of 0.59. The stock has a 50-day moving average of $47.05 and a 200-day moving average of $42.98. Disc Medicine, Inc. has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. On average, research analysts predict that Disc Medicine, Inc. will post -4.19 earnings per share for the current year.

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.