Disc Medicine, Inc. $IRON Shares Bought by Algert Global LLC

Algert Global LLC raised its position in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 128.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,850 shares of the company's stock after buying an additional 29,170 shares during the period. Algert Global LLC owned about 1.35% of Disc Medicine worth $3,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IRON. State of Wyoming acquired a new position in shares of Disc Medicine during the 2nd quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd acquired a new position in Disc Medicine during the fourth quarter worth $33,000. Allworth Financial LP acquired a new stake in shares of Disc Medicine in the 2nd quarter worth $46,000. Persistent Asset Partners Ltd purchased a new position in shares of Disc Medicine during the 4th quarter worth $141,000. Finally, Quantbot Technologies LP acquired a new position in shares of Disc Medicine during the 2nd quarter valued at about $153,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Disc Medicine Price Performance

Shares of IRON opened at $80.03 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The stock has a market cap of $3.07 billion, a PE ratio of -12.16 and a beta of 1.00. The firm has a fifty day moving average price of $76.98 and a 200 day moving average price of $70.04.

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. As a group, sell-side analysts anticipate that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Insider Transactions at Disc Medicine

In related news, COO Jonathan Yen-Wen Yu sold 8,796 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the transaction, the chief operating officer owned 54,324 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, insider Rahul Khara sold 5,000 shares of the company's stock in a transaction that occurred on 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 directly owned 52,324 shares of the company's stock, valued at approximately $4,185,920. This represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 153,612 shares of company stock worth $11,431,811. Company insiders own 3.76% of the company's stock.

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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