Palo Alto Investors LP Takes Position in Disc Medicine, Inc. $IRON

Palo Alto Investors LP purchased a new stake in Disc Medicine, Inc. (NASDAQ:IRON) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 416,646 shares of the company’s stock, valued at approximately $30,473,488,000. Disc Medicine makes up 4.2% of Palo Alto Investors LP’s holdings, making the stock its 9th biggest holding. Palo Alto Investors LP owned 10.88% of Disc Medicine as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRON. Capstone Investment Advisors LLC purchased a new position in Disc Medicine in the second quarter worth $245,000. Bank of America Corp DE purchased a new stake in shares of Disc Medicine during the 2nd quarter worth $9,882,000. Man Group plc purchased a new stake in shares of Disc Medicine during the 2nd quarter worth $1,092,000. Jupiter Topco LLC purchased a new stake in shares of Disc Medicine during the 2nd quarter worth $844,000. Finally, Legal & General Group Plc acquired a new position in shares of Disc Medicine during the 2nd quarter worth $1,350,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider directly owned 52,173 shares in the company, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the stock in a transaction on Tuesday, June 16th. The shares were 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 in the company, valued at approximately $3,758,677.56. The trade was a 25.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 153,612 shares of company stock valued at $11,431,811. Corporate insiders own 3.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IRON. HC Wainwright upped their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $90.00 price target on shares of Disc Medicine in a report on Monday, August 17th. Wedbush restated an “outperform” rating and issued a $88.00 price target on shares of Disc Medicine in a report on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Ten 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. Based on data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Disc Medicine Stock Down 0.1%

IRON stock opened at $82.55 on Friday. The company’s 50 day simple moving average is $76.79 and its 200-day simple moving average is $69.97. The firm has a market capitalization of $316.58 million, a PE ratio of -12.55 and a beta of 1.00. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.17. Equities analysts expect that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

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.