Disc Medicine, Inc. $IRON Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Disc Medicine, Inc. (NASDAQ:IRON) by 3.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,448,059 shares of the company’s stock after buying an additional 51,323 shares during the quarter. Vanguard Group Inc.’s holdings in Disc Medicine were worth $95,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Disc Medicine by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock worth $44,678,000 after purchasing an additional 84,278 shares in the last quarter. Geode Capital Management LLC grew its stake in Disc Medicine by 4.7% during the second quarter. Geode Capital Management LLC now owns 598,589 shares of the company’s stock worth $31,705,000 after buying an additional 26,605 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Disc Medicine by 50.0% during the second quarter. Adage Capital Partners GP L.L.C. now owns 450,000 shares of the company’s stock worth $23,832,000 after buying an additional 150,000 shares during the period. Eventide Asset Management LLC increased its position in shares of Disc Medicine by 69.4% in the second quarter. Eventide Asset Management LLC now owns 308,030 shares of the company’s stock worth $16,313,000 after acquiring an additional 126,212 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake in shares of Disc Medicine by 93.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 287,800 shares of the company’s stock valued at $15,242,000 after acquiring an additional 139,409 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $60.34 on Friday. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $99.50. The business has a 50 day moving average price of $73.08 and a two-hundred day moving average price of $75.48. The company has a quick ratio of 23.45, a current ratio of 21.94 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.28 billion, a PE ratio of -10.07 and a beta of 0.87.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.69) by $0.07. The business had revenue of ($19.88) million during the quarter, compared to analyst estimates of $0.15 million. Sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRON. Cantor Fitzgerald decreased their price target on shares of Disc Medicine from $153.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. UBS Group reaffirmed an “overweight” rating on shares of Disc Medicine in a research report on Thursday, January 15th. Truist Financial dropped their target price on Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wells Fargo & Company boosted their price target on Disc Medicine from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Morgan Stanley set a $75.00 price objective on shares of Disc Medicine in a research report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Insider Transactions at Disc Medicine

In other Disc Medicine news, insider Pamela Stephenson sold 5,531 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $62.86, for a total transaction of $347,678.66. Following the transaction, the insider directly owned 80,998 shares in the company, valued at $5,091,534.28. This represents a 6.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jonathan Yen-Wen Yu sold 3,231 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $203,100.66. Following the transaction, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at approximately $3,414,806.64. This represents a 5.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 292,492 shares of company stock valued at $25,423,925 over the last ninety days. 3.64% of the stock is currently owned by corporate insiders.

Disc Medicine 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.