The Manufacturers Life Insurance Company purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,771 shares of the company’s stock, valued at approximately $2,031,000.
Several other large investors also recently made changes to their positions in IRON. BlackRock Inc. acquired a new position in shares of Disc Medicine during the 2nd quarter valued at about $180,502,000. JPMorgan Chase & Co. raised its stake in shares of Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock valued at $125,557,000 after acquiring an additional 828,248 shares in the last quarter. BVF Inc. IL bought a new position in shares of Disc Medicine in the 4th quarter valued at approximately $51,616,000. Perceptive Advisors LLC acquired a new stake in Disc Medicine in the 4th quarter worth approximately $35,794,000. Finally, RA Capital Management L.P. lifted its holdings in Disc Medicine by 25.3% in the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after purchasing an additional 399,026 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.
Wall Street Analyst Weigh In
IRON has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, August 17th. HC Wainwright upped their price objective on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Wedbush lifted their target price on shares of Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.70.
Disc Medicine Price Performance
NASDAQ IRON opened at $80.05 on Thursday. The stock has a 50-day simple moving average of $77.49 and a 200 day simple moving average of $70.15. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The stock has a market capitalization of $3.07 billion, a PE ratio of -12.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14.
Disc Medicine (NASDAQ:IRON – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Research analysts anticipate that Disc Medicine, Inc. will post -6.61 EPS for the current year.
Insider Transactions at Disc Medicine
In other news, CEO John D. Quisel sold 34,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total value of $2,387,140.00. Following the completion of the sale, the chief executive officer directly 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total transaction of $526,650.00. Following the completion of the sale, the insider owned 52,173 shares in the company, valued at approximately $3,663,588.06. The trade was a 12.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 153,612 shares of company stock worth $11,431,811 over the last three months. 3.76% of the stock is currently owned by insiders.
Disc Medicine Company 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.
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