Zimmer Partners LP Buys 9,800 Shares of Disc Medicine, Inc. $IRON

Zimmer Partners LP lifted its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 29.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,900 shares of the company’s stock after acquiring an additional 9,800 shares during the period. Zimmer Partners LP’s holdings in Disc Medicine were worth $2,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock valued at $116,331,000 after purchasing an additional 948,094 shares during the last quarter. RA Capital Management L.P. bought a new stake in Disc Medicine during the first quarter valued at about $78,288,000. Vanguard Group Inc. boosted its position in shares of Disc Medicine by 22.2% in the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock valued at $64,782,000 after acquiring an additional 236,800 shares during the period. Janus Henderson Group PLC raised its stake in Disc Medicine by 62.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after purchasing an additional 467,988 shares during the last quarter. Finally, Siren L.L.C. bought a new stake in Disc Medicine in the 1st quarter valued at $53,207,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Disc Medicine

In related news, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $61.03, for a total value of $139,575.61. Following the completion of the transaction, the director directly owned 590,621 shares of the company’s stock, valued at $36,045,599.63. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the sale, the chief executive officer directly owned 161,828 shares in the company, valued at approximately $8,953,943.24. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,913 shares of company stock valued at $7,856,571 in the last three months. Corporate insiders own 3.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRON shares. Truist Financial initiated coverage on Disc Medicine in a research report on Monday, July 21st. They issued a “buy” rating and a $86.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. Raymond James Financial began coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Finally, Morgan Stanley increased their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $98.30.

Disc Medicine Trading Up 1.9%

Shares of IRON stock opened at $61.91 on Tuesday. The company has a market capitalization of $2.15 billion, a P/E ratio of -13.85 and a beta of 0.77. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $58.62 and a 200 day moving average price of $52.09.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). Research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

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.