Bank of New York Mellon Corp Takes Position in Disc Medicine, Inc. $IRON

Key Points

• Bank of New York Mellon initiated a position in Disc Medicine, buying 204,727 shares worth approximately $15.0 million, or 0.54% of the company. Institutional investors collectively own 83.7% of IRON.
• Insiders have been selling shares: the COO and CEO recently sold a combined 52,612 shares, while insiders have sold 153,612 shares worth $11.4 million over the past 90 days.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $106.50, compared with the stock’s reported price of $78.67. Disc Medicine also exceeded quarterly EPS expectations, reporting a loss of $1.54 versus the consensus loss estimate of $1.71.

Bank of New York Mellon Corp bought a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 204,727 shares of the company's stock, valued at approximately $14,974,000. Bank of New York Mellon Corp owned 0.54% of Disc Medicine as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings 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 worth $125,557,000 after purchasing an additional 828,248 shares during the period. BVF Inc. IL acquired a new stake in Disc Medicine during the 4th quarter worth approximately $51,616,000. Perceptive Advisors LLC purchased a new position in Disc Medicine in the fourth quarter valued at approximately $35,794,000. RA Capital Management L.P. lifted its position in Disc Medicine by 25.3% during the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company's stock valued at $156,925,000 after buying an additional 399,026 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Disc Medicine by 28.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,698,005 shares of the company's stock valued at $134,839,000 after buying an additional 371,576 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.

Insider Transactions at Disc Medicine

In other Disc Medicine news, COO Jonathan Yen-Wen Yu sold 18,612 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total value of $1,287,764.28. Following the transaction, the chief operating officer directly owned 54,324 shares of the company's stock, valued at $3,758,677.56. This represents a 25.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John D. Quisel sold 34,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 226,064 shares of the company's stock, valued at $15,871,953.44. This trade represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 153,612 shares of company stock valued at $11,431,811. 3.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IRON. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a report on Friday, July 17th. Wall Street Zen downgraded shares of Disc Medicine from a "hold" rating to a "sell" rating in a report on Saturday. Cantor Fitzgerald reissued an "overweight" rating on shares of Disc Medicine in a report on Tuesday. Wedbush reaffirmed an "outperform" rating and issued a $88.00 price target on shares of Disc Medicine in a report on Wednesday, June 10th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $106.50.

Disc Medicine Price Performance

Shares of IRON opened at $78.67 on Wednesday. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -11.96 and a beta of 0.98. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The business's 50-day moving average is $77.30 and its 200-day moving average is $70.09.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.17. Equities research analysts expect that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

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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