MPM Bioimpact LLC Grows Stake in Disc Medicine, Inc. (NASDAQ:IRON)

MPM Bioimpact LLC increased its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 11.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 346,401 shares of the company’s stock after acquiring an additional 34,640 shares during the period. Disc Medicine comprises 3.1% of MPM Bioimpact LLC’s portfolio, making the stock its 7th biggest position. MPM Bioimpact LLC’s holdings in Disc Medicine were worth $21,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after purchasing an additional 503 shares during the period. Tower Research Capital LLC TRC boosted its position in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Disc Medicine in the 4th quarter valued at about $235,000. Fiduciary Trust Co purchased a new stake in Disc Medicine in the 4th quarter valued at about $257,000. Finally, Bayesian Capital Management LP purchased a new stake in Disc Medicine in the 4th quarter valued at about $285,000. 83.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 2,100 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00. Following the completion of the sale, the insider now directly owns 66,398 shares in the company, valued at approximately $3,331,187.66. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pamela Stephenson sold 3,137 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,217.46. Following the sale, the insider now owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 356,290 shares of company stock worth $19,336,901. 4.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Scotiabank upped their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. Finally, BMO Capital Markets increased their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $98.80.

Disc Medicine Trading Down 0.6%

IRON opened at $46.35 on Wednesday. The firm has a market capitalization of $1.60 billion, a PE ratio of -11.65 and a beta of 0.77. Disc Medicine, Inc. has a twelve month low of $30.65 and a twelve month high of $68.73. The firm’s 50-day moving average price is $46.54 and its 200 day moving average price is $54.93.

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

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.