Quest Partners LLC Takes $131,000 Position in Disc Medicine, Inc. (NASDAQ:IRON)

Quest Partners LLC acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,670 shares of the company’s stock, valued at approximately $131,000.

Several other large investors have also bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in Disc Medicine in the second quarter worth approximately $34,318,000. Frazier Life Sciences Management L.P. grew its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Disc Medicine by 38.6% during the second quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock worth $9,702,000 after purchasing an additional 60,000 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Disc Medicine by 46.5% in the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock valued at $14,064,000 after purchasing an additional 98,988 shares during the period. Institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on IRON shares. HC Wainwright raised their target price on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $85.80.

Disc Medicine Stock Up 3.0 %

Shares of NASDAQ:IRON opened at $64.55 on Friday. The firm has a market cap of $1.92 billion, a P/E ratio of -16.22 and a beta of 0.60. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The company’s 50-day moving average price is $53.42 and its two-hundred day moving average price is $46.92.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. As a group, equities analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Insider Activity

In other news, insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now directly owns 40,405 shares in the company, valued at $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Insiders sold a total of 30,879 shares of company stock valued at $1,912,335 in the last ninety days. 4.24% of the stock is owned by insiders.

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.