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

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 45.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,075 shares of the company’s stock after purchasing an additional 337 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Disc Medicine were worth $54,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IRON. Jennison Associates LLC lifted its position in shares of Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after purchasing an additional 150,209 shares during the period. Swiss National Bank raised its stake in shares of Disc Medicine by 50.6% during the 1st quarter. Swiss National Bank now owns 23,800 shares of the company’s stock worth $1,482,000 after acquiring an additional 8,000 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Disc Medicine during the 1st quarter worth approximately $211,000. Bleakley Financial Group LLC raised its stake in shares of Disc Medicine by 23.0% during the 1st 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. Finally, Lord Abbett & CO. LLC bought a new position in shares of Disc Medicine during the 1st quarter worth approximately $7,429,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of IRON opened at $64.78 on Wednesday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $1.93 billion, a PE ratio of -17.65 and a beta of 0.60. The firm has a 50-day simple moving average of $48.75 and a two-hundred day simple moving average of $42.93.

Disc Medicine (NASDAQ:IRON) last issued 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. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Wedbush reiterated an “outperform” rating and set a $75.00 price objective (up previously from $60.00) on shares of Disc Medicine in a research note on Monday. Morgan Stanley upgraded 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. Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Finally, Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $66.00 to $110.00 in a research note on Monday. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $80.20.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 7,136 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 7,538 shares of company stock worth $437,875. 4.24% of the stock is currently owned by insiders.

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.