Squarepoint Ops LLC Increases Stock Position in Disc Medicine, Inc. $IRON

Key Points

• Squarepoint Ops LLC increased its Disc Medicine stake by 139.3% in the second quarter to 75,872 shares valued at $5.55 million. Institutional investors collectively own 83.7% of the company, with several major funds also building positions.
• Disc Medicine shares fell 5.5% to $70.06, despite the company reporting a quarterly loss of $1.54 per share that beat analyst expectations of a $1.71 loss.
• Wall Street sentiment remains generally positive, with 11 analysts rating the stock a Buy and an average price target of $109.55. However, insiders sold 209,797 shares worth approximately $15.9 million over the past three months.

Squarepoint Ops LLC increased its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 139.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,872 shares of the company's stock after purchasing an additional 44,163 shares during the quarter. Squarepoint Ops LLC owned 1.98% of Disc Medicine worth $5,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of Disc Medicine by 8,273.0% in the second quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company's stock worth $210,555,000 after acquiring an additional 2,844,408 shares during the period. BlackRock Inc. bought a new stake in shares of Disc Medicine during the 2nd quarter valued at $180,502,000. JPMorgan Chase & Co. raised its holdings in Disc Medicine by 110.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company's stock valued at $125,557,000 after acquiring an additional 828,248 shares during the period. BVF Inc. IL purchased a new position in Disc Medicine in the 4th quarter worth approximately $51,616,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Disc Medicine in the fourth quarter worth $35,794,000. Institutional investors own 83.70% of the company's stock.

Disc Medicine Trading Down 5.5%

IRON opened at $70.06 on Friday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -10.65 and a beta of 0.97. 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 stock has a fifty day moving average price of $77.80 and a 200-day moving average price of $70.84. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released 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, equities research analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 34,000 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total value of $2,387,140.00. Following the completion of the transaction, the chief executive officer owned 226,064 shares in the company, valued at $15,871,953.44. This trade represents a 13.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kevin Bitterman sold 49,164 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88. Following the completion of the transaction, the director owned 13,499 shares of the company's stock, valued at approximately $1,082,214.83. The trade was a 78.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 209,797 shares of company stock worth $15,934,791. 3.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IRON shares. BMO Capital Markets reiterated an "outperform" rating on shares of Disc Medicine in a research report on Thursday. Wedbush reiterated an "outperform" rating and issued a $100.00 target price on shares of Disc Medicine in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Wall Street Zen raised Disc Medicine from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $90.00 price target on shares of Disc Medicine in a research note on Monday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $109.55.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.

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