Patient Square Capital LP Buys Shares of 56,400 Disc Medicine, Inc. (NASDAQ:IRON)

Patient Square Capital LP purchased a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 56,400 shares of the company's stock, valued at approximately $3,576,000. Disc Medicine makes up approximately 1.3% of Patient Square Capital LP's holdings, making the stock its 13th biggest holding. Patient Square Capital LP owned 0.19% of Disc Medicine as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after buying an additional 503 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after buying an additional 266 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Disc Medicine in the fourth quarter worth about $235,000. Fiduciary Trust Co acquired a new stake in shares of Disc Medicine in the fourth quarter worth about $257,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Disc Medicine in the fourth quarter worth about $285,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Insider Buying and Selling

In other Disc Medicine news, CFO Jean M. Franchi sold 3,136 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now owns 69,530 shares of the company's stock, valued at $3,794,947.40. The trade was a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John D. Quisel sold 5,574 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $304,228.92. Following the completion of the sale, the chief executive officer now directly owns 154,828 shares in the company, valued at approximately $8,450,512.24. The trade was a 3.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 356,290 shares of company stock valued at $19,336,901 over the last ninety days. Company insiders own 4.24% of the company's stock.

Disc Medicine Price Performance

Shares of IRON traded up $0.81 during mid-day trading on Monday, hitting $48.90. The stock had a trading volume of 122,214 shares, compared to its average volume of 349,092. The business has a fifty day moving average price of $46.10 and a 200-day moving average price of $55.02. The firm has a market cap of $1.69 billion, a P/E ratio of -12.29 and a beta of 0.77. Disc Medicine, Inc. has a 52 week low of $30.65 and a 52 week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRON has been the subject of several research analyst reports. TD Cowen initiated coverage on Disc Medicine in a research report on Thursday, February 27th. They set a "buy" rating for the company. Stifel Nicolaus upped their price target on Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a report on Friday, January 24th. Scotiabank raised their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $98.80.

Disc Medicine Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.