Wellington Management Group LLP Sells 444,821 Shares of Disc Medicine, Inc. (NASDAQ:IRON)

Wellington Management Group LLP trimmed its position in Disc Medicine, Inc. (NASDAQ:IRON) by 24.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,395,405 shares of the company’s stock after selling 444,821 shares during the period. Wellington Management Group LLP owned about 4.69% of Disc Medicine worth $88,469,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Disc Medicine in the third quarter valued at approximately $146,000. Intech Investment Management LLC acquired a new position in shares of Disc Medicine in the 3rd quarter valued at $228,000. KLP Kapitalforvaltning AS acquired a new position in shares of Disc Medicine in the 4th quarter valued at $235,000. Teacher Retirement System of Texas grew its stake in shares of Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after purchasing an additional 396 shares during the period. Finally, Virtu Financial LLC bought a new stake in Disc Medicine in the fourth quarter valued at about $309,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Price Performance

Disc Medicine stock opened at $41.22 on Friday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -10.36 and a beta of 0.73. The firm has a 50-day moving average of $53.45 and a 200-day moving average of $56.04. Disc Medicine, Inc. has a one year low of $25.64 and a one year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Scotiabank lifted their price objective on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Stifel Nicolaus upped their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Wedbush reissued an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $93.80.

Insider Activity at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $87,873.80. Following the transaction, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.54, for a total transaction of $416,550.00. Following the completion of the sale, the insider now owns 14,035 shares of the company’s stock, valued at $779,503.90. This trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 361,690 shares of company stock valued at $19,648,094. 4.24% of the stock is owned by corporate 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.