Handelsbanken Fonder AB Buys Shares of 12,700 Disc Medicine, Inc. $IRON

Key Points

• Handelsbanken Fonder AB purchased 12,700 shares of Disc Medicine, valued at approximately $929,000. Institutional investors now own 83.70% of the company.
• Analyst sentiment remains generally positive, with 10 Buy ratings, one Hold, and one Sell. The consensus rating is Moderate Buy, with an average price target of $106.50.
• Insiders have sold 144,516 shares worth approximately $10.7 million over the past 90 days, while Disc Medicine’s latest quarterly loss of $1.54 per share was narrower than analysts’ expected loss of $1.71.

Handelsbanken Fonder AB purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,700 shares of the company's stock, valued at approximately $929,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd acquired a new position in shares of Disc Medicine during the fourth quarter valued at $33,000. KBC Group NV acquired a new stake in Disc Medicine in the fourth quarter worth about $80,000. Persistent Asset Partners Ltd bought a new position in Disc Medicine in the 4th quarter valued at about $141,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 36.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company's stock valued at $146,000 after buying an additional 490 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Disc Medicine by 15,137.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,438 shares of the company's stock valued at $161,000 after buying an additional 2,422 shares during the period. Institutional investors own 83.70% of the company's stock.

Insider Buying and Selling

In related news, COO Jonathan Yen-Wen Yu sold 804 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $82.64, for a total transaction of $66,442.56. Following the completion of the sale, the chief operating officer directly owned 54,324 shares of the company's stock, valued at $4,489,335.36. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rahul Khara sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the insider owned 52,324 shares of the company's stock, valued at $4,185,920. The trade was a 8.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 144,516 shares of company stock worth $10,675,929 in the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $80.32 on Thursday. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The company's 50-day moving average price is $75.39 and its two-hundred day moving average price is $69.91. Disc Medicine, Inc. has a 52 week low of $40.00 and a 52 week high of $99.50. The stock has a market cap of $307.63 million, a PE ratio of -12.21 and a beta of 1.00.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts' consensus estimates 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 fiscal year.

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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