Sofinnova Investments Inc. Increases Stock Holdings in Disc Medicine, Inc. $IRON

Key Points

• Sofinnova Investments Inc. increased its stake in Disc Medicine by 719.1% in the fourth quarter, ending with 111,010 shares valued at about $8.8 million.
• Other institutional investors also added to or initiated positions, and hedge funds and institutions now own 83.70% of Disc Medicine’s shares.
• Analyst sentiment remains mostly positive, with 10 Buy ratings and a consensus Moderate Buy target price of $105.80, though the stock has also seen insider selling and recently missed quarterly EPS estimates by a small margin.

Sofinnova Investments Inc. lifted its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 719.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,010 shares of the company's stock after buying an additional 97,457 shares during the period. Sofinnova Investments Inc. owned about 0.29% of Disc Medicine worth $8,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ANTIPODES PARTNERS Ltd purchased a new position in Disc Medicine in the fourth quarter worth $33,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Disc Medicine in the third quarter valued at $38,000. KBC Group NV purchased a new position in Disc Medicine during the 4th quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $146,000 after acquiring an additional 490 shares during the period. Finally, Avanza Fonder AB increased its holdings in shares of Disc Medicine by 14.1% in the fourth quarter. Avanza Fonder AB now owns 1,903 shares of the company's stock worth $151,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 83.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRON shares. Wedbush reaffirmed an "outperform" rating and issued a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a report on Monday, April 20th. Cantor Fitzgerald lowered their price target on Disc Medicine from $153.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus dropped their target price on shares of Disc Medicine from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $105.80.

Disc Medicine Trading Up 3.1%

Shares of NASDAQ:IRON opened at $70.09 on Tuesday. The stock's fifty day moving average price is $68.26 and its 200-day moving average price is $72.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00. The company has a market cap of $2.67 billion, a P/E ratio of -10.59 and a beta of 0.93. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50.

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

Insider Activity

In other news, CFO Jean M. Franchi sold 6,257 shares of the business's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $69.24, for a total transaction of $433,234.68. Following the completion of the sale, the chief financial officer owned 64,333 shares of the company's stock, valued at $4,454,416.92. The trade was a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Jacob Savage sold 5,731 shares of the business's stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $66.38, for a total value 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 represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,388 shares of company stock worth $841,258 over the last three months. Insiders own 3.76% of the company's stock.

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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