Disc Medicine, Inc. $IRON Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 202.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 204,968 shares of the company’s stock after purchasing an additional 137,261 shares during the quarter. Bank of New York Mellon Corp’s holdings in Disc Medicine were worth $13,106,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, insider Rahul Khara sold 1,649 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $75.00, for a total value of $123,675.00. Following the transaction, the insider directly owned 52,173 shares in the company, valued at approximately $3,912,975. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jonathan Yen-Wen Yu sold 9,700 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $72.66, for a total transaction of $704,802.00. Following the transaction, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at approximately $3,947,181.84. This represents a 15.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 105,712 shares of company stock valued at $7,597,536. Company insiders own 3.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on IRON shares. Wedbush reiterated an “outperform” rating and issued a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Morgan Stanley increased their price objective on Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Nine 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.44.

Disc Medicine Stock Down 2.8%

IRON opened at $77.00 on Friday. The business has a 50 day moving average price of $72.74 and a 200 day moving average price of $69.69. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. The firm has a market cap of $2.94 billion, a P/E ratio of -11.70 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. Research analysts forecast that Disc Medicine, Inc. will post -6.74 EPS for the current year.

About Disc Medicine

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.