Verition Fund Management LLC Invests $589,000 in Disc Medicine, Inc. (NASDAQ:IRON)

Verition Fund Management LLC acquired a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,980 shares of the company’s stock, valued at approximately $589,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the period. Quest Partners LLC purchased a new stake in Disc Medicine during the third quarter valued at $131,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Disc Medicine in the second quarter valued at about $129,000. Finally, Quantbot Technologies LP bought a new position in Disc Medicine in the third quarter valued at about $146,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

IRON opened at $67.47 on Wednesday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -16.95 and a beta of 0.75. The firm’s fifty day moving average is $56.26 and its 200 day moving average is $49.06. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on IRON. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 5th. Wedbush reissued an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a research report on Monday. Finally, Wells Fargo & Company began coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Disc Medicine presently has an average rating of “Buy” and a consensus target price of $87.50.

Insider Activity at Disc Medicine

In other Disc Medicine news, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. The trade was a 18.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Richard White sold 7,136 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,836 shares of company stock valued at $2,038,816. 4.24% of the stock is owned by company insiders.

About Disc Medicine

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.