Jennison Associates LLC Grows Stake in Disc Medicine, Inc. $IRON

Jennison Associates LLC grew its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 14.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 610,382 shares of the company’s stock after acquiring an additional 78,303 shares during the period. Jennison Associates LLC’s holdings in Disc Medicine were worth $39,028,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IRON. JPMorgan Chase & Co. boosted its stake in Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after purchasing an additional 828,248 shares in the last quarter. BVF Inc. IL bought a new stake in Disc Medicine during the 4th quarter valued at about $51,616,000. Perceptive Advisors LLC purchased a new position in Disc Medicine in the fourth quarter worth about $35,794,000. RA Capital Management L.P. raised its holdings in Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after buying an additional 399,026 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Disc Medicine by 10,968.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 394,374 shares of the company’s stock worth $31,317,000 after buying an additional 390,811 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analyst Ratings Changes

IRON has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday. Morgan Stanley boosted their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Wedbush reiterated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.44.

Disc Medicine Stock Down 2.3%

IRON stock opened at $74.38 on Tuesday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -11.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. The business’s 50-day moving average is $71.30 and its two-hundred day moving average is $69.85. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). As a group, analysts forecast that Disc Medicine, Inc. will post -6.74 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Jonathan Yen-Wen Yu sold 18,612 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the completion of the sale, the chief operating officer directly owned 54,324 shares in the company, valued at approximately $3,758,677.56. The trade was a 25.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the sale, the insider directly owned 52,173 shares of the company’s stock, valued at approximately $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 105,712 shares of company stock valued at $7,597,536. 3.76% of the stock is owned by insiders.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.