Armistice Capital LLC Acquires 80,000 Shares of Disc Medicine, Inc. $IRON

Key Points

• Armistice Capital LLC increased its stake in Disc Medicine, Inc. by 22.5%, holding 436,000 shares worth approximately $21.64 million following an additional purchase of 80,000 shares.
• Insider trading activity included CFO Jean M. Franchi and Director Kevin Bitterman selling shares, with a total of 135,909 shares sold over the last 90 days valued at about $8.01 million.
• Disc Medicine has received several positive analyst ratings, with price targets ranging from $90.00 to $120.00 and a consensus rating of "Buy".

Armistice Capital LLC raised its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 22.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 436,000 shares of the company's stock after acquiring an additional 80,000 shares during the period. Armistice Capital LLC owned 1.26% of Disc Medicine worth $21,643,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IRON. Wellington Management Group LLP raised its holdings in shares of Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after buying an additional 948,094 shares during the last quarter. Vanguard Group Inc. raised its holdings in Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after purchasing an additional 236,800 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock valued at $77,170,000 after buying an additional 467,988 shares in the last quarter. Siren L.L.C. bought a new position in shares of Disc Medicine in the first quarter valued at $53,207,000. Finally, Woodline Partners LP increased its holdings in shares of Disc Medicine by 5.2% in the fourth quarter. Woodline Partners LP now owns 396,600 shares of the company's stock valued at $25,144,000 after buying an additional 19,538 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the sale, the chief financial officer directly owned 63,499 shares of the company's stock, valued at $3,746,441. This represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Bitterman sold 2,287 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the transaction, the director owned 590,621 shares in the company, valued at $36,045,599.63. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,909 shares of company stock valued at $8,006,371. 3.64% of the stock is currently owned by insiders.

Disc Medicine Stock Performance

Disc Medicine stock traded up $1.75 on Tuesday, reaching $61.40. 356,331 shares of the stock were exchanged, compared to its average volume of 292,549. The firm has a fifty day moving average price of $58.05 and a two-hundred day moving average price of $51.92. The stock has a market cap of $2.13 billion, a PE ratio of -13.74 and a beta of 0.77. 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, Inc. has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). Sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on IRON shares. Raymond James Financial started coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target on the stock. BMO Capital Markets upped their price target on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Truist Financial started coverage on Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. Finally, Morgan Stanley upped their price target on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $98.30.

Disc Medicine Company 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.