SummitTX Capital L.P. Buys Shares of 13,820 Disc Medicine, Inc. $IRON

SummitTX Capital L.P. purchased a new stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,820 shares of the company’s stock, valued at approximately $884,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRON. JPMorgan Chase & Co. lifted its stake in Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after purchasing an additional 828,248 shares in the last quarter. BVF Inc. IL bought a new stake in Disc Medicine during the fourth quarter worth about $51,616,000. Jennison Associates LLC bought a new position in Disc Medicine during the fourth quarter valued at approximately $42,252,000. Perceptive Advisors LLC purchased a new position in Disc Medicine in the 4th quarter worth $35,794,000. Finally, RA Capital Management L.P. lifted its stake in shares of Disc Medicine by 25.3% in the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock valued at $156,925,000 after acquiring an additional 399,026 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Price Performance

Shares of IRON stock opened at $79.21 on Friday. The firm has a market cap of $3.02 billion, a P/E ratio of -11.97 and a beta of 0.97. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The business’s 50 day moving average price is $72.53 and its 200-day moving average price is $69.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 6th. The company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. On average, equities research analysts anticipate that Disc Medicine, Inc. will post -6.74 earnings per share for the current year.

Wall Street Analyst Weigh In

IRON has been the subject of a number of analyst reports. Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Wedbush reiterated an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a report on Wednesday, June 10th. Finally, Morgan Stanley increased their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.44.

Insider Buying and Selling at Disc Medicine

In related news, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the transaction, the insider owned 52,173 shares in the company, valued at $3,663,588.06. The trade was a 12.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly 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. 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 currently owned by company insiders.

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.