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

JPMorgan Chase & Co. decreased its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 752,879 shares of the company’s stock after selling 90,737 shares during the period. JPMorgan Chase & Co. owned 2.17% of Disc Medicine worth $49,750,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Disc Medicine by 22.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after acquiring an additional 2,807 shares during the period. Millennium Management LLC lifted its stake in Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Disc Medicine by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after purchasing an additional 3,454 shares during the period. CWM LLC grew its holdings in Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $55,000 after purchasing an additional 711 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Disc Medicine in the second quarter worth $497,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 68,923 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $91.24, for a total value of $6,288,534.52. Following the transaction, the director directly owned 14,161 shares in the company, valued at $1,292,049.64. This represents a 82.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rahul Khara sold 6,500 shares of Disc Medicine stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $78.69, for a total value of $511,485.00. Following the sale, the insider owned 37,793 shares of the company’s stock, valued at approximately $2,973,931.17. This trade represents a 14.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 284,761 shares of company stock valued at $24,913,484. Corporate insiders own 3.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IRON shares. Stifel Nicolaus dropped their price target on Disc Medicine from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Morgan Stanley set a $75.00 price objective on Disc Medicine in a research note on Tuesday, February 17th. BMO Capital Markets dropped their price objective on shares of Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Truist Financial lifted their target price on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Wedbush lowered their price target on shares of Disc Medicine from $110.00 to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Eleven 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $104.82.

Disc Medicine Trading Up 1.5%

Shares of IRON opened at $67.91 on Friday. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $99.50. The stock has a market cap of $2.56 billion, a PE ratio of -12.69 and a beta of 0.88. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $74.70 and its 200-day moving average price is $75.34.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) EPS for the quarter, beating the consensus estimate of ($1.69) by $0.07. The firm had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. On average, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

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.