Disc Medicine, Inc. $IRON Shares Sold by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP has reduced its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 19.1%, now owning approximately 1,210,971 shares valued at around $60 million.
• Various institutional investors have made significant adjustments to their stakes, with Caitong International Asset Management Co. Ltd increasing their investment by 13,428.6%.
• The company's stock is currently rated as a "Buy" by analysts, with a consensus target price of $98.30, despite a recent earnings miss of ($1.58) EPS.

Paradigm Biocapital Advisors LP reduced its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,210,971 shares of the company's stock after selling 286,749 shares during the period. Disc Medicine comprises 2.8% of Paradigm Biocapital Advisors LP's holdings, making the stock its 11th biggest position. Paradigm Biocapital Advisors LP owned about 3.50% of Disc Medicine worth $60,113,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Disc Medicine by 12.5% in the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock valued at $264,000 after acquiring an additional 590 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after acquiring an additional 219 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock valued at $1,596,000 after acquiring an additional 3,108 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock valued at $616,000 after acquiring an additional 12,171 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Disc Medicine in the 4th quarter valued at $335,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented 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. Truist Financial initiated coverage on shares of Disc Medicine in a report on Monday, July 21st. They set a "buy" rating and a $86.00 price target on the stock. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. BMO Capital Markets increased their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Morgan Stanley increased their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $98.30.

Disc Medicine Price Performance

NASDAQ:IRON traded up $1.75 during trading hours on Tuesday, reaching $61.40. 356,331 shares of the company were exchanged, compared to its average volume of 292,549. 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 stock's 50-day moving average is $58.05 and its 200-day moving average is $51.92. The firm has a market cap of $2.13 billion, a PE ratio of -13.74 and a beta of 0.77. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, CFO Jean M. Franchi sold 2,031 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the transaction, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. This represents a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin Bitterman sold 29,837 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $60.97, for a total transaction of $1,819,161.89. Following the transaction, the director owned 647,002 shares of the company's stock, valued at $39,447,711.94. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,909 shares of company stock valued at $8,006,371. Insiders own 3.64% of the company's stock.

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.