RA Capital Management L.P. Purchases Shares of 1,577,106 Disc Medicine, Inc. $IRON

Key Points

• RA Capital Management L.P. acquired 1,577,106 shares of Disc Medicine, Inc. for approximately $78.3 million, making it the firm's 20th largest position at about 1.3% of its portfolio.
• Disc Medicine reported a quarterly loss of ($1.58) earnings per share, missing expectations by ($0.41), with analysts projecting a yearly EPS of -4.07.
• Multiple research firms have given positive ratings on Disc Medicine, with price targets ranging from $86.00 to $118.00, indicating strong analyst support for the stock's potential growth.

RA Capital Management L.P. bought a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,577,106 shares of the company's stock, valued at approximately $78,288,000. Disc Medicine comprises about 1.3% of RA Capital Management L.P.'s investment portfolio, making the stock its 20th largest position. RA Capital Management L.P. owned about 4.56% of Disc Medicine as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IRON. Dimensional Fund Advisors LP boosted its position in Disc Medicine by 160.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 139,720 shares of the company's stock worth $8,856,000 after purchasing an additional 86,154 shares during the last quarter. Tower Research Capital LLC TRC raised its stake 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 period. Tudor Investment Corp ET AL bought a new position in shares of Disc Medicine in the fourth quarter worth about $847,000. The Manufacturers Life Insurance Company raised its stake in shares of Disc Medicine by 32.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 38,459 shares of the company's stock worth $2,438,000 after buying an additional 9,394 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Disc Medicine by 9.5% in the fourth quarter. Northern Trust Corp now owns 187,017 shares of the company's stock worth $11,857,000 after buying an additional 16,299 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRON has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a research note on Thursday, July 3rd. BMO Capital Markets raised their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Morgan Stanley raised their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Truist Financial initiated coverage on Disc Medicine in a research note on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $90.00 price objective on shares of Disc Medicine in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, Disc Medicine has an average rating of "Buy" and a consensus target price of $98.30.

Disc Medicine Price Performance

IRON traded up $0.57 on Friday, hitting $60.76. 196,285 shares of the company's stock traded hands, compared to its average volume of 281,745. The company's 50 day simple moving average is $58.45 and its 200-day simple moving average is $52.07. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -13.59 and a beta of 0.77. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $68.73. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, research analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the transaction, the chief financial officer owned 63,499 shares in the company, valued at $3,746,441. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin Bitterman sold 29,837 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.97, for a total value of $1,819,161.89. Following the transaction, the director owned 647,002 shares of the company's stock, valued at $39,447,711.94. This represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,913 shares of company stock worth $7,856,571 in the last quarter. 3.64% of the stock is owned by corporate insiders.

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.