Perceptive Advisors LLC Acquires New Position in Disc Medicine, Inc. $IRON

Perceptive Advisors LLC acquired a new stake in Disc Medicine, Inc. (NASDAQ:IRON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 450,743 shares of the company’s stock, valued at approximately $35,794,000.

Other hedge funds have also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine in the fourth quarter valued at about $33,000. Aster Capital Management DIFC Ltd purchased a new position in Disc Medicine during the third quarter worth about $38,000. KBC Group NV purchased a new position in Disc Medicine during the fourth quarter worth about $80,000. Persistent Asset Partners Ltd purchased a new position in Disc Medicine during the fourth quarter worth about $141,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 36.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

IRON has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Truist Financial lowered their target price on shares of Disc Medicine from $114.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Wells Fargo & Company increased their target price on shares of Disc Medicine from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.80.

Insider Activity

In other news, insider William Jacob Savage sold 5,731 shares of the 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 owned 79,480 shares of the company’s stock, valued at approximately $5,275,882.40. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 6,257 shares of the 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 position. The SEC filing for this sale provides additional information. Insiders have sold 12,388 shares of company stock worth $841,258 in the last three months. Corporate insiders own 3.76% of the company’s stock.

Disc Medicine Stock Up 0.5%

Shares of IRON opened at $70.21 on Thursday. The stock has a market capitalization of $2.68 billion, a PE ratio of -10.61 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. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. The company’s 50-day simple moving average is $68.44 and its 200-day simple moving average is $71.93.

Disc Medicine (NASDAQ:IRON) last issued 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). Analysts forecast that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.

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.