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

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

Several other hedge funds also recently added to or reduced their stakes in IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Disc Medicine by 22.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after buying an additional 2,807 shares during the period. Millennium Management LLC boosted its stake in shares of Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after buying an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Disc Medicine by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after acquiring an additional 3,454 shares during the period. Legal & General Group Plc raised its position in Disc Medicine by 18.0% during the second quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after acquiring an additional 3,682 shares in the last quarter. Finally, Invesco Ltd. raised its position in Disc Medicine by 21.6% during the second quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after acquiring an additional 2,983 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a research report on Tuesday, September 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Disc Medicine in a research note on Thursday. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Disc Medicine in a research report on Thursday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Disc Medicine in a report 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 assigned a Sell rating to the stock. According to MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus target price of $109.55.

Disc Medicine Stock Down 5.5%

IRON stock opened at $70.06 on Friday. The stock has a market capitalization of $2.69 billion, a P/E ratio of -10.65 and a beta of 0.97. The firm has a 50-day simple moving average of $77.80 and a 200-day simple moving average of $70.84. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a 52 week low of $40.00 and a 52 week high of $99.50.

Disc Medicine (NASDAQ:IRON) last issued 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. Equities analysts forecast that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, COO Jonathan Yu sold 18,612 shares of Disc Medicine stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total value of $1,287,764.28. Following the sale, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $3,758,677.56. The trade was a 25.52% decrease in their ownership of the stock. 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 stock in a transaction on Wednesday, September 2nd. The shares were 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 directly owned 13,499 shares of the company’s stock, valued at approximately $1,082,214.83. This represents a 78.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 209,797 shares of company stock worth $15,934,791 over the last three months. 3.76% of the stock is owned by insiders.

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.