Deerfield Management Company L.P. Series C Purchases 357,730 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Deerfield Management Company L.P. Series C increased its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 53.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,023,265 shares of the company’s stock after acquiring an additional 357,730 shares during the period. Deerfield Management Company L.P. Series C owned about 4.14% of Disc Medicine worth $46,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Bleakley Financial Group LLC grew its position in Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares in the last quarter. SG Americas Securities LLC grew its position in Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after acquiring an additional 1,247 shares in the last quarter. TD Asset Management Inc grew its position in Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in Disc Medicine by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock worth $289,000 after acquiring an additional 1,848 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Price Performance

IRON stock opened at $47.87 on Thursday. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The company has a market cap of $1.18 billion, a P/E ratio of -14.16 and a beta of 0.59. The firm has a 50-day moving average of $47.00 and a 200 day moving average of $42.77.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Monday, September 16th. Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research report 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, September 20th. Finally, Wells Fargo & Company began coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

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.