Renaissance Technologies LLC Sells 31,000 Shares of Disc Medicine, Inc. $IRON

Key Points

• Renaissance Technologies cut its Disc Medicine stake by 49.3% in the first quarter, selling 31,000 shares and retaining 31,820 shares worth approximately $2.04 million.
• Institutional ownership remains substantial at 83.7%, with Vanguard, Pictet Asset Management, and DNB Asset Management among investors that increased their positions.
• Disc Medicine shares opened at $78.28, while analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and a $106 average price target. Insiders, however, sold 110,712 shares worth nearly $8 million over the past three months.

Renaissance Technologies LLC trimmed its stake in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 49.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,820 shares of the company's stock after selling 31,000 shares during the quarter. Renaissance Technologies LLC owned about 0.08% of Disc Medicine worth $2,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NEXTBio Capital Management LP bought a new position in shares of Disc Medicine during the 4th quarter worth about $3,397,000. Eagle Health Investments LP bought a new stake in Disc Medicine in the 4th quarter valued at about $2,152,000. DNB Asset Management AS raised its stake in Disc Medicine by 1,425.8% during the 4th quarter. DNB Asset Management AS now owns 84,255 shares of the company's stock worth $6,691,000 after buying an additional 78,733 shares during the period. Pictet Asset Management Holding SA raised its stake in Disc Medicine by 10,968.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 394,374 shares of the company's stock worth $31,317,000 after buying an additional 390,811 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Disc Medicine by 22.1% in the fourth quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company's stock worth $140,371,000 after acquiring an additional 319,621 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Jonathan Yen-Wen Yu sold 18,612 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the completion of the sale, the chief operating officer directly owned 54,324 shares of the company's stock, valued at approximately $3,758,677.56. This trade represents a 25.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider owned 52,173 shares in the company, valued at $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 110,712 shares of company stock valued at $7,997,536 over the last three months. Corporate insiders own 3.76% of the company's stock.

Disc Medicine Stock Up 1.1%

IRON opened at $78.28 on Tuesday. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The firm has a market capitalization of $3.01 billion, a P/E ratio of -11.90 and a beta of 1.00. The company's 50-day moving average is $73.72 and its 200 day moving average is $69.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.71) by $0.17. Research analysts expect that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the subject of several recent research reports. HC Wainwright boosted their price objective on Disc Medicine from $118.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wedbush reiterated an "outperform" rating and issued a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Morgan Stanley boosted their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the company an "overweight" rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Disc Medicine from a "sell" rating to a "hold" rating in a 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 equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.00.

Disc Medicine 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.

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