Assenagon Asset Management S.A. Invests $689,000 in Disc Medicine, Inc. $IRON

Assenagon Asset Management S.A. acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,433 shares of the company’s stock, valued at approximately $689,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in shares of Disc Medicine by 27.1% in the 1st quarter. Invesco Ltd. now owns 13,834 shares of the company’s stock valued at $687,000 after buying an additional 2,953 shares during the period. Northern Trust Corp lifted its stake in Disc Medicine by 11.7% in the first quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock worth $10,365,000 after acquiring an additional 21,796 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Disc Medicine by 10.9% during the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company’s stock worth $668,000 after acquiring an additional 1,322 shares in the last quarter. Corebridge Financial Inc. increased its position in shares of Disc Medicine by 14.0% in the 1st quarter. Corebridge Financial Inc. now owns 11,180 shares of the company’s stock valued at $555,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Disc Medicine by 22.7% in the 1st quarter. Rafferty Asset Management LLC now owns 34,041 shares of the company’s stock valued at $1,690,000 after purchasing an additional 6,292 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IRON shares. Wedbush lifted their price objective on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. National Bankshares set a $153.00 price target on Disc Medicine in a research note on Friday, October 17th. Wells Fargo & Company upped their price objective on Disc Medicine from $91.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Morgan Stanley increased their price objective on Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Truist Financial boosted their target price on Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Insider Activity

In other news, COO Jonathan Yen-Wen Yu sold 30,000 shares of Disc Medicine stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the sale, the chief operating officer owned 40,555 shares of the company’s stock, valued at $3,435,008.50. The trade was a 42.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin Bitterman sold 754 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $91.47, for a total transaction of $68,968.38. Following the transaction, the director directly owned 14,013 shares of the company’s stock, valued at $1,281,769.11. This represents a 5.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 451,555 shares of company stock worth $38,742,458 over the last quarter. Insiders own 3.64% of the company’s stock.

Disc Medicine Stock Performance

NASDAQ IRON opened at $80.40 on Friday. The firm has a market cap of $3.03 billion, a P/E ratio of -15.03 and a beta of 0.87. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $99.50. The business’s 50-day moving average price is $88.40 and its 200 day moving average price is $69.62. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.29). On average, equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.