450,743 Shares in Disc Medicine, Inc. $IRON Bought by Perceptive Advisors LLC

Key Points

• Perceptive Advisors opened a new position in Disc Medicine, buying 450,743 shares worth about $35.8 million, which represented roughly 1.19% of the company.
• Institutional ownership in Disc Medicine remains heavy, with hedge funds and other investors holding about 83.7% of the stock; several firms, including RA Capital, Vanguard, and JPMorgan, also increased their stakes.
• Disc Medicine reported a quarterly loss of $1.65 per share, slightly worse than analysts expected, while analysts overall still rate the stock a Moderate Buy with a consensus target price of $105.80.

Perceptive Advisors LLC purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 450,743 shares of the company's stock, valued at approximately $35,794,000. Perceptive Advisors LLC owned approximately 1.19% of Disc Medicine as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased 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 acquiring an additional 399,026 shares in the last quarter. Vanguard Group Inc. increased its holdings in Disc Medicine by 22.1% in the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company's stock worth $140,371,000 after acquiring an additional 319,621 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Disc Medicine by 28.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,698,005 shares of the company's stock worth $134,839,000 after acquiring an additional 371,576 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company's stock worth $125,557,000 after acquiring an additional 828,248 shares in the last quarter. Finally, State Street Corp increased its holdings in Disc Medicine by 13.6% in the 4th quarter. State Street Corp now owns 1,187,991 shares of the company's stock worth $94,338,000 after acquiring an additional 142,394 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Disc Medicine Price Performance

Disc Medicine stock opened at $70.21 on Thursday. Disc Medicine, Inc. has a 52-week low of $40.00 and a 52-week high of $99.50. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -10.61 and a beta of 0.93. The company has a fifty day simple moving average of $68.44 and a 200-day simple moving average of $71.93. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.62) by ($0.03). On average, equities analysts anticipate that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jean M. Franchi sold 6,257 shares of the company's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $69.24, for a total transaction of $433,234.68. Following the completion of the sale, the chief financial officer owned 64,333 shares of the company's stock, valued at $4,454,416.92. This represents a 8.86% 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, insider William Jacob Savage sold 5,731 shares of the company's stock in a transaction on Monday, April 13th. The stock was sold at an average price of $66.38, for a total transaction of $380,423.78. Following the sale, the insider directly owned 79,480 shares of the company's stock, valued at $5,275,882.40. The trade was a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,388 shares of company stock valued at $841,258 in the last ninety days. Insiders own 3.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a report on Monday, April 20th. Wall Street Zen raised shares of Disc Medicine from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Truist Financial dropped their target price on shares of Disc Medicine from $114.00 to $83.00 and set a "buy" rating for the company in a report on Friday, February 27th. Finally, Wedbush reaffirmed an "outperform" rating and set a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $105.80.

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.

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