BlackRock Inc. Makes New Investment in Disc Medicine, Inc. $IRON

Key Points

• BlackRock acquired 2.47 million Disc Medicine shares worth approximately $180.5 million, giving it a 6.47% stake. Institutional investors collectively own 83.70% of the company.
• Disc Medicine reported a quarterly loss of $1.54 per share, beating analysts’ estimate of a $1.71 loss. The stock opened at $82.55, with a 52-week range of $40.00 to $99.50.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $106.50, although insiders sold $11.4 million in shares during the latest quarter.

BlackRock Inc. acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,467,899 shares of the company's stock, valued at approximately $180,502,000. BlackRock Inc. owned about 6.47% of Disc Medicine at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG purchased a new stake in Disc Medicine in the 2nd quarter worth approximately $2,241,000. Bank of New York Mellon Corp acquired a new position in Disc Medicine in the 2nd quarter valued at $14,974,000. State of Wyoming purchased a new position in shares of Disc Medicine during the 2nd quarter worth $25,000. GSA Capital Partners LLP purchased a new position in shares of Disc Medicine during the 2nd quarter worth $1,194,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Disc Medicine during the second quarter worth $929,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Transactions at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 8,796 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the sale, the chief operating officer owned 54,324 shares in the company, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rahul Khara sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the insider owned 52,324 shares in the company, valued at approximately $4,185,920. The trade was a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 153,612 shares of company stock valued at $11,431,811 over the last quarter. Company insiders own 3.76% of the company's stock.

Disc Medicine Trading Down 0.1%

NASDAQ IRON opened at $82.55 on Friday. The firm has a market capitalization of $316.58 million, a price-to-earnings ratio of -12.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50. The company's 50 day moving average price is $76.79 and its 200 day moving average price is $69.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results 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. On average, sell-side analysts predict that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday, August 17th. Wall Street Zen upgraded Disc Medicine from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Wedbush reiterated an "outperform" rating and set a $88.00 price objective on shares of Disc Medicine in a report on Wednesday, June 10th. Finally, HC Wainwright raised their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.50.

About Disc Medicine

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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