Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Disc Medicine, Inc. (NASDAQ:IRON)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 45.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,075 shares of the company’s stock after purchasing an additional 337 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Disc Medicine were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Frazier Life Sciences Management L.P. lifted its holdings 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 purchasing an additional 969,834 shares in the last quarter. Logos Global Management LP purchased a new position in Disc Medicine in the 2nd quarter valued at about $41,690,000. Point72 Asset Management L.P. purchased a new position in Disc Medicine in the 2nd quarter valued at about $34,318,000. Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on IRON. Scotiabank upped their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $75.00 target price (up from $60.00) on shares of Disc Medicine in a report on Monday. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $80.20.

Disc Medicine Stock Performance

NASDAQ IRON opened at $64.78 on Wednesday. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The company’s 50 day moving average price is $48.75 and its 200 day moving average price is $42.93. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.65 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Sell-side analysts forecast that Disc Medicine, Inc. will post -4.09 EPS for the current fiscal year.

Insider Activity

In other news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 7,538 shares of company stock worth $437,875 over the last 90 days. Company insiders own 4.24% of the company’s stock.

Disc Medicine Company 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.