Pictet Asset Management Holding SA Has $24.75 Million Stake in Disc Medicine, Inc. $IRON

Pictet Asset Management Holding SA lowered its position in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 1.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,005 shares of the company’s stock after selling 7,369 shares during the period. Pictet Asset Management Holding SA owned about 1.01% of Disc Medicine worth $24,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd acquired a new position in Disc Medicine during the 4th quarter worth about $33,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Disc Medicine in the third quarter valued at about $38,000. KBC Group NV bought a new position in shares of Disc Medicine during the fourth quarter worth about $80,000. Persistent Asset Partners Ltd acquired a new position in shares of Disc Medicine in the fourth quarter worth approximately $141,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Disc Medicine by 36.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after acquiring an additional 490 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Disc Medicine

In other news, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the transaction, the chief executive officer owned 226,064 shares in the company, valued at approximately $15,871,953.44. This represents a 13.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief operating officer directly owned 54,324 shares in the company, valued at $3,758,677.56. This trade represents a 25.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 85,000 shares of company stock worth $5,956,865 over the last ninety days. 3.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on IRON shares. Wall Street Zen raised shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Morgan Stanley boosted their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Wedbush reaffirmed an “outperform” rating and issued a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.80.

Disc Medicine Trading Up 2.5%

NASDAQ IRON opened at $74.95 on Thursday. The business has a 50 day simple moving average of $69.08 and a 200 day simple moving average of $70.50. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50. The stock has a market capitalization of $2.86 billion, a P/E ratio of -11.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). Research analysts expect that Disc Medicine, Inc. will post -6.74 earnings per share for the current 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.