The Manufacturers Life Insurance Company Has $1.43 Million Position in Disc Medicine, Inc. (NASDAQ:IRON)

The Manufacturers Life Insurance Company grew its position in Disc Medicine, Inc. (NASDAQ:IRON) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,065 shares of the company’s stock after purchasing an additional 771 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Disc Medicine worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine in the second quarter valued at about $34,318,000. Frazier Life Sciences Management L.P. lifted its stake in 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 valued at $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Blue Owl Capital Holdings LP lifted its stake in Disc Medicine by 38.6% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after acquiring an additional 60,000 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake 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 worth $14,064,000 after acquiring an additional 98,988 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Insider Transactions at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the sale, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,644,507.25. This represents a 25.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,836 shares of company stock worth $2,038,816 in the last quarter. 4.24% of the stock is currently owned by corporate insiders.

Disc Medicine Price Performance

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IRON shares. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Wells Fargo & Company began coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Stifel Nicolaus raised their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $87.50.

Disc Medicine 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.