Disc Medicine, Inc. $IRON is Bain Capital Life Sciences Investors LLC’s 8th Largest Position

Bain Capital Life Sciences Investors LLC lessened its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 40.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 583,500 shares of the company’s stock after selling 400,000 shares during the quarter. Disc Medicine accounts for approximately 3.9% of Bain Capital Life Sciences Investors LLC’s holdings, making the stock its 8th largest position. Bain Capital Life Sciences Investors LLC’s holdings in Disc Medicine were worth $30,902,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IRON. Bank of America Corp DE increased its holdings in Disc Medicine by 213.7% in the 2nd quarter. Bank of America Corp DE now owns 168,822 shares of the company’s stock valued at $8,941,000 after acquiring an additional 115,014 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Disc Medicine by 50.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 450,000 shares of the company’s stock valued at $23,832,000 after purchasing an additional 150,000 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Disc Medicine by 79.0% in the second quarter. Ameriprise Financial Inc. now owns 121,520 shares of the company’s stock worth $6,436,000 after purchasing an additional 53,615 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Disc Medicine by 93.9% during the second quarter. Nantahala Capital Management LLC now owns 287,800 shares of the company’s stock valued at $15,242,000 after buying an additional 139,409 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in Disc Medicine by 3.9% during the second quarter. Raymond James Financial Inc. now owns 86,487 shares of the company’s stock valued at $4,580,000 after buying an additional 3,211 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Disc Medicine

In related news, Director Kevin Bitterman sold 71,961 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total transaction of $5,079,007.38. Following the transaction, the director directly owned 500,621 shares in the company, valued at approximately $35,333,830.18. This represents a 12.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $84.70, for a total transaction of $2,541,000.00. Following the completion of the sale, the chief operating officer directly owned 40,555 shares of the company’s stock, valued at approximately $3,435,008.50. The trade was a 42.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 213,585 shares of company stock valued at $16,898,513. 3.64% of the stock is owned by corporate insiders.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $91.85 on Friday. The firm has a market capitalization of $3.47 billion, a PE ratio of -17.17 and a beta of 0.87. The stock’s fifty day moving average is $86.06 and its 200 day moving average is $67.28. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $99.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.45 and a current ratio of 23.45.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.29). On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IRON shares. Morgan Stanley lifted their price objective on Disc Medicine from $90.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Wedbush boosted their price target on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. National Bankshares set a $153.00 price target on shares of Disc Medicine in a research note on Friday, October 17th. Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Truist Financial lifted their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.