Zimmer Partners LP Has $2.13 Million Holdings in 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 lifted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,900 shares of the company's stock after purchasing an additional 9,800 shares during the period. Zimmer Partners LP owned 0.12% of Disc Medicine worth $2,130,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after acquiring an additional 219 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine in the fourth quarter worth $40,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Disc Medicine by 13,428.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after acquiring an additional 940 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after acquiring an additional 266 shares in the last quarter. Finally, Fiduciary Trust Co acquired a new position in shares of Disc Medicine in the fourth quarter worth $257,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Kevin Bitterman sold 29,837 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.97, for a total value of $1,819,161.89. Following the completion of the sale, the director owned 647,002 shares in the company, valued at approximately $39,447,711.94. This represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the completion of the sale, the chief executive officer owned 161,828 shares of the company's stock, valued at approximately $8,953,943.24. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 132,913 shares of company stock worth $7,856,571. Insiders own 3.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Disc Medicine Trading Down 0.8%

IRON stock traded down $0.47 during midday trading on Friday, hitting $59.82. The stock had a trading volume of 178,558 shares, compared to its average volume of 279,542. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73. The company's 50-day moving average price is $59.16 and its 200 day moving average price is $52.27. The firm has a market cap of $2.08 billion, a PE ratio of -13.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). On average, equities research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

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.