JPMorgan Chase & Co. Sells 90,737 Shares of Disc Medicine, Inc. $IRON

JPMorgan Chase & Co. trimmed its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 752,879 shares of the company’s stock after selling 90,737 shares during the period. JPMorgan Chase & Co. owned approximately 1.99% of Disc Medicine worth $49,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Disc Medicine by 22.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after purchasing an additional 2,807 shares during the period. Millennium Management LLC lifted its holdings in shares of Disc Medicine by 1,277.1% during the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after buying an additional 100,620 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Disc Medicine by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after buying an additional 3,454 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Disc Medicine by 6.1% in the second quarter. PNC Financial Services Group Inc. now owns 25,140 shares of the company’s stock worth $1,331,000 after acquiring an additional 1,440 shares during the period. Finally, Geode Capital Management LLC increased its position in Disc Medicine by 4.7% during the second quarter. Geode Capital Management LLC now owns 598,589 shares of the company’s stock valued at $31,705,000 after acquiring an additional 26,605 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $58.17 on Friday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -9.71 and a beta of 0.87. The company has a quick ratio of 21.94, a current ratio of 21.94 and a debt-to-equity ratio of 0.04. The stock’s 50-day simple moving average is $69.17 and its 200-day simple moving average is $75.61. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $99.50.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.69) by $0.07. The company had revenue of ($19.88) million for the quarter, compared to the consensus estimate of $0.15 million. As a group, analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the topic of several research reports. Cantor Fitzgerald dropped their target price on Disc Medicine from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Wedbush lowered their price objective on shares of Disc Medicine from $110.00 to $88.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, January 21st. UBS Group reaffirmed an “overweight” rating on shares of Disc Medicine in a report on Thursday, January 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Disc Medicine in a research report on Friday, December 19th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.80.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 7,081 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $65.47, for a total transaction of $463,593.07. Following the transaction, the chief financial officer owned 71,343 shares of the company’s stock, valued at approximately $4,670,826.21. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William Jacob Savage sold 7,378 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $65.88, for a total value of $486,062.64. Following the transaction, the insider owned 85,211 shares of the company’s stock, valued at approximately $5,613,700.68. The trade was a 7.97% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 54,522 shares of company stock valued at $3,579,979. 3.64% of the stock is owned by insiders.

About Disc Medicine

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.