925,000 Shares in Disc Medicine, Inc. (NASDAQ:IRON) Purchased by Logos Global Management LP

Logos Global Management LP acquired a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 925,000 shares of the company’s stock, valued at approximately $41,690,000. Disc Medicine comprises 3.3% of Logos Global Management LP’s holdings, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of IRON. Amalgamated Bank raised its stake in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Disc Medicine in the 2nd quarter worth approximately $129,000. SG Americas Securities LLC boosted its stake in shares of Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after buying an additional 1,247 shares during the last quarter. ProShare Advisors LLC bought a new position in Disc Medicine during the first quarter worth $211,000. Finally, Fiduciary Trust Co bought a new position in Disc Medicine during the fourth quarter worth $234,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

NASDAQ IRON opened at $46.95 on Tuesday. The stock has a fifty day moving average of $47.01 and a 200-day moving average of $42.86. The stock has a market capitalization of $1.16 billion, a P/E ratio of -13.89 and a beta of 0.59. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.08. Equities research analysts forecast that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on IRON. BMO Capital Markets reissued an “outperform” rating and set a $70.00 price target (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday. Finally, Wells Fargo & Company started coverage on Disc Medicine in a 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $64.13.

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.