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

JPMorgan Chase & Co. lessened its holdings in Disc Medicine, Inc. (NASDAQ:IRON) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 752,879 shares of the company’s stock after selling 90,737 shares during the quarter. JPMorgan Chase & Co.’s holdings in Disc Medicine were worth $49,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRON. Arizona State Retirement System raised its stake in Disc Medicine by 1.8% in the third quarter. Arizona State Retirement System now owns 6,654 shares of the company’s stock worth $440,000 after buying an additional 120 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Disc Medicine by 2.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,094 shares of the company’s stock valued at $469,000 after acquiring an additional 138 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Disc Medicine by 8.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock valued at $133,000 after acquiring an additional 206 shares during the period. HighVista Strategies LLC raised its position in shares of Disc Medicine by 4.3% in the 2nd quarter. HighVista Strategies LLC now owns 6,733 shares of the company’s stock worth $357,000 after acquiring an additional 275 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Disc Medicine by 1.7% during the 3rd quarter. Alliancebernstein L.P. now owns 24,540 shares of the company’s stock worth $1,622,000 after purchasing an additional 400 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jonathan Yen-Wen Yu sold 3,231 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total value of $203,100.66. Following the sale, the chief operating officer owned 54,324 shares in the company, valued at $3,414,806.64. This represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jean M. Franchi sold 7,081 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $65.47, for a total transaction of $463,593.07. Following the transaction, the chief financial officer directly owned 71,343 shares of the company’s stock, valued at $4,670,826.21. This represents a 9.03% 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 have sold 54,522 shares of company stock valued at $3,579,979. 3.64% of the stock is owned by insiders.

Disc Medicine Stock Down 1.7%

NASDAQ:IRON opened at $58.17 on Friday. The company has a current ratio of 21.94, a quick ratio of 21.94 and a debt-to-equity ratio of 0.04. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $99.50. The company has a market cap of $2.20 billion, a PE ratio of -9.71 and a beta of 0.87. The company’s 50 day moving average is $69.17 and its two-hundred day moving average is $75.61.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.69) by $0.07. The company had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. Analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRON. UBS Group reiterated an “overweight” rating on shares of Disc Medicine in a research note on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Disc Medicine in a research report on Friday, December 19th. BMO Capital Markets lowered their price target on shares of Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Wedbush cut their price objective on shares of Disc Medicine from $110.00 to $88.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Finally, Wells Fargo & Company boosted their price objective 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. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.80.

Disc Medicine Company 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.