Palo Alto Investors LP Takes $30.47 Billion Position in Disc Medicine, Inc. $IRON

Palo Alto Investors LP bought a new position in Disc Medicine, Inc. (NASDAQ:IRON) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 416,646 shares of the company’s stock, valued at approximately $30,473,488,000. Disc Medicine comprises 4.2% of Palo Alto Investors LP’s investment portfolio, making the stock its 9th largest holding. Palo Alto Investors LP owned approximately 0.11% of Disc Medicine at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in IRON. Arizona State Retirement System grew its position in shares of Disc Medicine by 2.2% in the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock valued at $540,000 after purchasing an additional 144 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in Disc Medicine by 3.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after purchasing an additional 215 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after buying an additional 216 shares during the period. Kennedy Capital Management LLC lifted its position in Disc Medicine by 3.3% during the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock worth $740,000 after buying an additional 296 shares during the period. Finally, State of Wyoming acquired a new stake in Disc Medicine in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, COO Jonathan Yen-Wen Yu sold 18,612 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the completion of the sale, the chief operating officer directly owned 54,324 shares in the company, valued at $3,758,677.56. The trade was a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John D. Quisel sold 34,000 shares of the business’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 approximately $15,871,953.44. This represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 153,612 shares of company stock valued at $11,431,811 over the last ninety days. Corporate insiders own 3.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Disc Medicine Stock Performance

Disc Medicine stock opened at $82.55 on Friday. The company has a market cap of $316.58 million, a price-to-earnings ratio of -12.55 and a beta of 1.00. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The stock’s 50-day moving average is $76.79 and its 200-day moving average is $69.97.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.17. Equities analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current 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.