NEXTBio Capital Management LP Takes $3.40 Million Position in Disc Medicine, Inc. $IRON

Key Points

• NEXTBio Capital Management opened a new position in Disc Medicine, buying 42,778 shares worth about $3.4 million; the stake represents roughly 2% of its portfolio.
• Institutional ownership remains heavy, with major firms like Vanguard, JPMorgan, and Goldman Sachs increasing their holdings in the biotech company during the fourth quarter.
• Several Disc Medicine insiders sold shares recently, while analysts remain generally bullish: the stock has a Moderate Buy consensus and an average target price of $105.30.

NEXTBio Capital Management LP purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 42,778 shares of the company's stock, valued at approximately $3,397,000. Disc Medicine makes up about 2.0% of NEXTBio Capital Management LP's investment portfolio, making the stock its 19th biggest holding. NEXTBio Capital Management LP owned 0.11% of Disc Medicine at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 22.1% in the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company's stock valued at $140,371,000 after purchasing an additional 319,621 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company's stock valued at $125,557,000 after purchasing an additional 828,248 shares in the last quarter. State Street Corp increased its holdings in shares of Disc Medicine by 13.6% in the 4th quarter. State Street Corp now owns 1,187,991 shares of the company's stock valued at $94,338,000 after purchasing an additional 142,394 shares in the last quarter. Siren L.L.C. increased its holdings in shares of Disc Medicine by 8.2% in the 4th quarter. Siren L.L.C. now owns 988,401 shares of the company's stock valued at $78,489,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Disc Medicine by 42.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 754,195 shares of the company's stock valued at $59,891,000 after purchasing an additional 225,114 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Insider Activity

In other Disc Medicine news, insider William Jacob Savage sold 5,731 shares of the firm's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $66.38, for a total transaction of $380,423.78. Following the sale, the insider directly owned 79,480 shares of the company's stock, valued at $5,275,882.40. This trade represents a 6.73% 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 6,257 shares of the firm's stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $69.24, for a total transaction of $433,234.68. Following the sale, the chief financial officer directly owned 64,333 shares in the company, valued at $4,454,416.92. This represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,388 shares of company stock worth $841,258 over the last ninety days. 3.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IRON has been the topic of a number of research reports. Wedbush reissued an "outperform" rating and issued a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Disc Medicine from $78.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. Stifel Nicolaus lowered their price objective on shares of Disc Medicine from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. BMO Capital Markets lowered their price objective on shares of Disc Medicine from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Finally, Morgan Stanley increased their price objective on shares of Disc Medicine from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.30.

Disc Medicine Price Performance

Disc Medicine stock opened at $67.99 on Friday. Disc Medicine, Inc. has a 12-month low of $40.00 and a 12-month high of $99.50. The stock has a market capitalization of $2.59 billion, a P/E ratio of -10.27 and a beta of 0.93. The firm's 50-day moving average is $68.16 and its two-hundred day moving average is $72.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.62) by ($0.03). Equities analysts predict that Disc Medicine, Inc. will post -6.74 earnings per share for the current year.

Disc Medicine Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.