Bank of New York Mellon Corp Raises Holdings in Disc Medicine, Inc. $IRON

Bank of New York Mellon Corp raised its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 202.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,968 shares of the company’s stock after acquiring an additional 137,261 shares during the period. Bank of New York Mellon Corp owned approximately 0.54% of Disc Medicine worth $13,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Disc Medicine by 2.2% in the 4th quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock valued at $540,000 after acquiring an additional 144 shares during the period. Police & Firemen s Retirement System of New Jersey increased its holdings in Disc Medicine by 3.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after purchasing an additional 215 shares in the last quarter. Kennedy Capital Management LLC raised its position in Disc Medicine by 3.3% in the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock valued at $740,000 after purchasing an additional 296 shares during the period. Alliancebernstein L.P. raised its position in Disc Medicine by 1.7% in the third quarter. Alliancebernstein L.P. now owns 24,540 shares of the company’s stock valued at $1,622,000 after purchasing an additional 400 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Disc Medicine during the fourth quarter worth about $33,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented 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 “sell” rating to a “hold” rating in a research note on Saturday. Wedbush reissued an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, Morgan Stanley upped 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. Nine 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.44.

Insider Transactions at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 18,612 shares of Disc Medicine stock in a transaction on 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 transaction, the chief operating officer directly owned 54,324 shares in the company, valued at approximately $3,758,677.56. This trade represents a 25.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the transaction, the insider directly owned 52,173 shares of the company’s stock, valued at $3,663,588.06. This represents a 12.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 105,712 shares of company stock worth $7,597,536. Insiders own 3.76% of the company’s stock.

Disc Medicine Price Performance

IRON opened at $77.00 on Friday. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $72.74 and its 200 day moving average price is $69.69. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -11.70 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -6.74 earnings per share for the current 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.