Jennison Associates LLC Buys Shares of 43,031 Disc Medicine, Inc. (NASDAQ:IRON)

Jennison Associates LLC purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the fourth quarter, Holdings Channel.com reports. The fund purchased 43,031 shares of the company’s stock, valued at approximately $2,485,000.

Other hedge funds have also made changes to their positions in the company. Strs Ohio grew its stake in Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after buying an additional 400 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Disc Medicine by 16.1% in the 3rd quarter. Alps Advisors Inc. now owns 16,900 shares of the company’s stock worth $794,000 after acquiring an additional 2,346 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Disc Medicine in the 4th quarter valued at about $161,000. Bleakley Financial Group LLC acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $215,000. Finally, Simplicity Solutions LLC acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $215,000. Institutional investors own 83.70% of the company’s stock.

Insider Buying and Selling at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.71% of the company’s stock.

Disc Medicine Stock Up 3.9 %

Shares of NASDAQ:IRON opened at $27.55 on Friday. The company’s fifty day moving average is $50.99 and its two-hundred day moving average is $54.62. The company has a market cap of $665.06 million, a P/E ratio of -7.89 and a beta of 0.18. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). Equities research analysts anticipate that Disc Medicine, Inc. will post -4.44 earnings per share for the current year.

Analyst Ratings Changes

IRON has been the subject of several analyst reports. Morgan Stanley reduced their price objective on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. BMO Capital Markets cut their target price on Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Monday, April 1st. Wedbush reaffirmed an “outperform” rating and set a $43.00 target price (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Finally, Raymond James reiterated an “outperform” rating and issued a $40.00 price target (down previously from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.29.

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.