Logos Global Management LP Takes Position in Disc Medicine, Inc. (NASDAQ:IRON)

Logos Global Management LP purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 925,000 shares of the company’s stock, valued at approximately $41,690,000. Disc Medicine accounts for approximately 3.3% of Logos Global Management LP’s investment portfolio, making the stock its 8th largest position. Logos Global Management LP owned 3.74% of Disc Medicine as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ally Bridge Group NY LLC acquired a new position in Disc Medicine during the second quarter worth about $7,504,000. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the period. Sofinnova Investments Inc. lifted its position in shares of Disc Medicine by 373.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 29,256 shares of the company’s stock worth $1,319,000 after purchasing an additional 23,083 shares during the period. Atlas Venture Life Science Advisors LLC lifted its position in shares of Disc Medicine by 9.7% during 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 acquiring an additional 222,223 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Disc Medicine by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after acquiring an additional 98,988 shares during the period. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $46.95 on Tuesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -13.89 and a beta of 0.59. The stock has a 50 day moving average price of $47.01 and a 200-day moving average price of $42.86. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.08. Sell-side analysts predict that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.