Wellington Management Group LLP Has $88.47 Million Position in Disc Medicine, Inc. (NASDAQ:IRON)

Wellington Management Group LLP cut its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 24.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,395,405 shares of the company’s stock after selling 444,821 shares during the quarter. Wellington Management Group LLP’s holdings in Disc Medicine were worth $88,469,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Disc Medicine by 275.4% during the 4th quarter. JPMorgan Chase & Co. now owns 61,017 shares of the company’s stock worth $3,868,000 after purchasing an additional 44,762 shares during the last quarter. Vanguard Group Inc. increased its position in Disc Medicine by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after buying an additional 18,716 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Disc Medicine during the fourth quarter worth $235,000. Virtu Financial LLC acquired a new stake in shares of Disc Medicine during the fourth quarter worth $309,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after acquiring an additional 396 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insider Buying and Selling

In other news, insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,217.46. Following the transaction, the insider now owns 69,529 shares in the company, valued at approximately $3,794,892.82. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the completion of the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at approximately $2,213,491.90. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,690 shares of company stock worth $19,648,094 in the last 90 days. Insiders own 4.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Scotiabank raised their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Wedbush reiterated an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. HC Wainwright reissued a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Finally, Stifel Nicolaus increased their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $93.80.

Disc Medicine Trading Down 9.9 %

IRON opened at $41.22 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of -10.36 and a beta of 0.73. The company’s 50 day moving average is $53.45 and its 200-day moving average is $56.04. Disc Medicine, Inc. has a 1-year low of $25.64 and a 1-year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

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.