SummitTX Capital L.P. Purchases New Shares in Disc Medicine, Inc. $IRON

SummitTX Capital L.P. purchased a new position in Disc Medicine, Inc. (NASDAQ:IRON) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 13,820 shares of the company’s stock, valued at approximately $884,000.

A number of other institutional investors have also added to or reduced their stakes in IRON. ANTIPODES PARTNERS Ltd bought a new position in Disc Medicine in the fourth quarter worth $33,000. KBC Group NV bought a new stake in shares of Disc Medicine during the 4th quarter valued at $80,000. Persistent Asset Partners Ltd bought a new stake in shares of Disc Medicine during the 4th quarter valued at $141,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Disc Medicine by 36.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after buying an additional 490 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Disc Medicine by 15,137.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,438 shares of the company’s stock worth $161,000 after buying an additional 2,422 shares during the period. Institutional investors own 83.70% of the company’s stock.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 33,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $74.96, for a total transaction of $2,473,680.00. Following the completion of the sale, the chief executive officer directly owned 226,064 shares in the company, valued at approximately $16,945,757.44. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 9,700 shares of Disc Medicine stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $72.66, for a total transaction of $704,802.00. Following the completion of the transaction, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $3,947,181.84. This trade represents a 15.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 105,712 shares of company stock valued at $7,597,536. 3.76% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on IRON. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. 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. Finally, Wedbush reiterated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Nine 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 company’s stock. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.44.

Disc Medicine Trading Up 7.5%

NASDAQ IRON opened at $79.21 on Friday. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $72.53 and its 200-day moving average price is $69.64. The stock has a market cap of $3.02 billion, a P/E ratio of -11.97 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.17. As a group, equities analysts forecast that Disc Medicine, Inc. will post -6.74 EPS 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.