Renaissance Technologies LLC Decreases Position in Disc Medicine, Inc. $IRON

Renaissance Technologies LLC lessened its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 49.3% during the first quarter, HoldingsChannel reports. The firm owned 31,820 shares of the company’s stock after selling 31,000 shares during the period. Renaissance Technologies LLC’s holdings in Disc Medicine were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Inceptionr LLC bought a new position in Disc Medicine during the first quarter valued at $415,000. Sei Investments Co. purchased a new stake in Disc Medicine in the first quarter worth $992,000. Dimensional Fund Advisors LP raised its stake in shares of Disc Medicine by 76.4% in the first quarter. Dimensional Fund Advisors LP now owns 394,447 shares of the company’s stock valued at $25,212,000 after buying an additional 170,872 shares during the period. AlphaCentric Advisors LLC raised its stake in shares of Disc Medicine by 5.8% in the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock valued at $254,000 after buying an additional 216 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Disc Medicine by 14.7% during the 1st quarter. Jennison Associates LLC now owns 610,382 shares of the company’s stock valued at $39,028,000 after buying an additional 78,303 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Up 1.1%

Shares of NASDAQ IRON opened at $78.28 on Tuesday. The stock has a market capitalization of $3.01 billion, a P/E ratio of -11.90 and a beta of 1.00. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50. The firm’s 50 day simple moving average is $73.72 and its two-hundred day simple moving average is $69.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.

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

Insider Buying and Selling

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value 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. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were 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. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,712 shares of company stock worth $7,997,536 in the last 90 days. 3.76% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on IRON shares. HC Wainwright increased their price target on Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Wedbush reiterated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, Morgan Stanley lifted their target price on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.