JPMorgan Chase & Co. Sells 90,737 Shares of Disc Medicine, Inc. $IRON

JPMorgan Chase & Co. reduced its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 10.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 752,879 shares of the company’s stock after selling 90,737 shares during the period. JPMorgan Chase & Co.’s holdings in Disc Medicine were worth $49,750,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Disc Medicine by 22.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after purchasing an additional 2,807 shares in the last quarter. Millennium Management LLC increased its position in shares of Disc Medicine by 1,277.1% during the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Disc Medicine by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after buying an additional 3,454 shares in the last quarter. CWM LLC raised its holdings in shares of Disc Medicine by 213.5% during the 2nd quarter. CWM LLC now owns 1,044 shares of the company’s stock valued at $55,000 after buying an additional 711 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Disc Medicine in the 2nd quarter worth approximately $497,000. Institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IRON shares. Truist Financial boosted their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Cantor Fitzgerald cut their price objective on Disc Medicine from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Raymond James Financial reiterated a “market perform” rating on shares of Disc Medicine in a research report on Thursday, January 15th. Wells Fargo & Company reduced their price target on Disc Medicine from $109.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus decreased 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 note on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.82.

Insider Transactions at Disc Medicine

In other Disc Medicine news, CFO Jean M. Franchi sold 7,081 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $65.47, for a total transaction of $463,593.07. Following the completion of the sale, the chief financial officer directly owned 71,343 shares in the company, valued at approximately $4,670,826.21. The trade was a 9.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rahul Khara sold 2,853 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total value of $179,339.58. Following the completion of the transaction, the insider owned 52,173 shares in the company, valued at approximately $3,279,594.78. This trade represents a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 284,761 shares of company stock valued at $24,913,484. Company insiders own 3.64% of the company’s stock.

Disc Medicine Trading Up 1.5%

Shares of NASDAQ:IRON opened at $67.91 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $99.50. The company has a market cap of $2.56 billion, a P/E ratio of -12.69 and a beta of 0.88. The stock’s fifty day moving average price is $74.70 and its 200-day moving average price is $75.34.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) EPS for the quarter, topping the consensus estimate of ($1.69) by $0.07. The business had revenue of ($19.88) million during the quarter, compared to the consensus estimate of $0.15 million. Sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current 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.