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

JPMorgan Chase & Co. reduced its position in Disc Medicine, Inc. (NASDAQ:IRON) by 10.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 752,879 shares of the company’s stock after selling 90,737 shares during the quarter. JPMorgan Chase & Co. owned 2.17% of Disc Medicine worth $49,750,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IRON. Arizona State Retirement System boosted 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. Ameritas Investment Partners Inc. boosted its stake 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 purchasing an additional 206 shares in the last quarter. HighVista Strategies LLC raised its position in 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 purchasing an additional 275 shares during the period. Avanza Fonder AB lifted its stake in Disc Medicine by 54.0% in the third quarter. Avanza Fonder AB now owns 1,668 shares of the company’s stock worth $110,000 after purchasing an additional 585 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Disc Medicine by 12.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,490 shares of the company’s stock worth $291,000 after purchasing an additional 600 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Up 1.5%

Shares of NASDAQ IRON opened at $67.91 on Friday. The company has a market cap of $2.56 billion, a PE ratio of -12.69 and a beta of 0.88. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $99.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.45 and a current ratio of 23.45. The firm’s 50 day moving average price is $74.70 and its 200-day moving average price is $75.34.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, February 26th. The company reported ($1.62) EPS for the quarter, topping analysts’ consensus estimates 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. On average, equities research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Jonathan Yen-Wen Yu sold 3,231 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $62.86, for a total value of $203,100.66. Following the completion of the sale, the chief operating officer directly owned 54,324 shares in the company, valued at $3,414,806.64. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jean M. Franchi sold 7,081 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 71,343 shares of the company’s stock, valued at $4,670,826.21. The trade was a 9.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 284,761 shares of company stock worth $24,913,484 in the last three months. 3.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRON has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Truist Financial lifted their price objective on Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Raymond James Financial reissued a “market perform” rating on shares of Disc Medicine in a research report on Thursday, January 15th. TD Cowen restated a “buy” rating on shares of Disc Medicine in a research report on Friday, December 19th. Finally, UBS Group reiterated an “overweight” rating on shares of Disc Medicine in a report on Thursday, January 15th. 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.

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.