The Manufacturers Life Insurance Company Boosts Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

The Manufacturers Life Insurance Company grew its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 32.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,459 shares of the company’s stock after acquiring an additional 9,394 shares during the period. The Manufacturers Life Insurance Company’s holdings in Disc Medicine were worth $2,438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IRON. FMR LLC boosted its stake in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after acquiring an additional 1,459,434 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Disc Medicine by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares during the last quarter. Vanguard Group Inc. grew its stake in Disc Medicine by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after purchasing an additional 18,716 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Disc Medicine by 7.4% in the fourth quarter. Victory Capital Management Inc. now owns 236,244 shares of the company’s stock valued at $14,978,000 after buying an additional 16,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Disc Medicine by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,072 shares of the company’s stock valued at $10,466,000 after buying an additional 4,518 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 5,574 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares of the company’s stock, valued at $8,450,512.24. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 2,100 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the sale, the insider now owns 66,398 shares of the company’s stock, valued at $3,331,187.66. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,290 shares of company stock valued at $19,336,901 over the last 90 days. 4.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IRON shares. Cantor Fitzgerald boosted their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. HC Wainwright reiterated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $93.80.

Disc Medicine Trading Down 0.1 %

IRON stock opened at $44.24 on Friday. The firm’s 50-day moving average is $46.93 and its two-hundred day moving average is $54.92. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.12 and a beta of 0.77. Disc Medicine, Inc. has a 52 week low of $30.65 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, equities research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

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.