BlackRock Inc. Acquires Shares of 2,467,899 Disc Medicine, Inc. $IRON

BlackRock Inc. acquired a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,467,899 shares of the company’s stock, valued at approximately $180,502,000. BlackRock Inc. owned about 0.06% of Disc Medicine as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State of Wyoming acquired a new stake in Disc Medicine in the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Disc Medicine during the 4th quarter worth $33,000. Persistent Asset Partners Ltd bought a new stake in shares of Disc Medicine in the 4th quarter worth about $141,000. Russell Investments Group Ltd. raised its stake in shares of Disc Medicine by 15,137.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,438 shares of the company’s stock valued at $161,000 after purchasing an additional 2,422 shares in the last quarter. Finally, Saxon Interests Inc. bought a new position in shares of Disc Medicine during the fourth quarter worth about $205,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Morgan Stanley reissued an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Wedbush restated an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Finally, HC Wainwright increased their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.50.

Disc Medicine Trading Down 0.1%

Shares of NASDAQ:IRON opened at $82.55 on Friday. The company has a 50 day moving average of $76.79 and a 200-day moving average of $69.97. The firm has a market cap of $316.58 million, a P/E ratio of -12.55 and a beta of 1.00. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. As a group, analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Rahul Khara sold 7,500 shares of the 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 completion of the sale, the insider directly owned 52,173 shares of the company’s stock, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 34,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the sale, the chief executive officer owned 226,064 shares of the company’s stock, valued at $15,871,953.44. The trade was a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 153,612 shares of company stock worth $11,431,811. 3.76% of the stock is owned by company insiders.

Disc Medicine Company Profile

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.