Octagon Capital Advisors LP Makes New Investment in Disc Medicine, Inc. $IRON

Octagon Capital Advisors LP purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 270,000 shares of the company’s stock, valued at approximately $17,264,000. Disc Medicine accounts for about 1.9% of Octagon Capital Advisors LP’s investment portfolio, making the stock its 18th largest holding. Octagon Capital Advisors LP owned 0.71% of Disc Medicine at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Disc Medicine by 2.2% in the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock worth $540,000 after buying an additional 144 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after buying an additional 215 shares during the period. AlphaCentric Advisors LLC grew its position in Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after buying an additional 216 shares in the last quarter. Kennedy Capital Management LLC grew its position in Disc Medicine by 3.3% during the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock worth $740,000 after buying an additional 296 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Disc Medicine by 1.7% in the 3rd quarter. Alliancebernstein L.P. now owns 24,540 shares of the company’s stock worth $1,622,000 after acquiring an additional 400 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRON has been the topic of several recent analyst reports. Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Wedbush reissued an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Finally, Morgan Stanley raised their target price on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.44.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 34,000 shares of Disc Medicine stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the transaction, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at approximately $15,871,953.44. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the completion of the sale, the chief operating officer owned 54,324 shares of the company’s stock, valued at approximately $3,758,677.56. The trade was a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 105,712 shares of company stock valued at $7,597,536. Corporate insiders own 3.76% of the company’s stock.

Disc Medicine Price Performance

IRON opened at $74.12 on Monday. The stock has a market cap of $2.83 billion, a PE ratio of -11.20 and a beta of 0.97. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. Disc Medicine, Inc. has a 52 week low of $40.00 and a 52 week high of $99.50. The business’s fifty day simple moving average is $71.79 and its 200 day simple moving average is $69.73.

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). As a group, research analysts expect 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.