Zimmer Partners LP Acquires 9,800 Shares of Disc Medicine, Inc. $IRON

Key Points

• Zimmer Partners LP increased its holdings in Disc Medicine, Inc. by 29.6%, owning approximately 42,900 shares worth $2.13 million, showcasing growing institutional interest in the company.
• Insiders such as CEO John D. Quisel and Director Kevin Bitterman sold significant portions of their stakes, indicating potential concerns over near-term performance, with a total of 132,913 shares sold worth approximately $7.86 million in the last three months.
• Analysts have generally rated Disc Medicine positively, with multiple upgrades leading to a current consensus price target of $98.30 and a call for the stock to outperform in the market.

Zimmer Partners LP increased its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 29.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,900 shares of the company's stock after buying an additional 9,800 shares during the quarter. Zimmer Partners LP owned 0.12% of Disc Medicine worth $2,130,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. RA Capital Management L.P. purchased a new stake in shares of Disc Medicine in the first quarter valued at about $78,288,000. Siren L.L.C. purchased a new stake in Disc Medicine in the 1st quarter valued at about $53,207,000. Wellington Management Group LLP lifted its position in shares of Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after buying an additional 948,094 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock worth $77,170,000 after buying an additional 467,988 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock valued at $64,782,000 after acquiring an additional 236,800 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded down $0.47 during midday trading on Friday, hitting $59.82. 178,558 shares of the company's stock were exchanged, compared to its average volume of 393,034. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The business's fifty day moving average price is $59.06 and its two-hundred day moving average price is $52.24. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -13.38 and a beta of 0.77. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IRON shares. Morgan Stanley raised their target price on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Truist Financial started coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a "buy" rating and a $86.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Raymond James Financial began coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $98.30.

Insiders Place Their Bets

In related news, CEO John D. Quisel sold 34,800 shares of the stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the transaction, the chief executive officer owned 161,828 shares of the company's stock, valued at approximately $8,953,943.24. This trade represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares in the company, valued at $3,746,441. This trade represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,913 shares of company stock valued at $7,856,571. 3.64% of the stock is currently owned by corporate insiders.

Disc Medicine 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.