Legal & General Group Plc Buys New Holdings in Disc Medicine, Inc. $IRON

Legal & General Group Plc acquired a new position in Disc Medicine, Inc. (NASDAQ:IRON) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,458 shares of the company’s stock, valued at approximately $1,350,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRON. Police & Firemen s Retirement System of New Jersey lifted its holdings in Disc Medicine by 3.3% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after acquiring an additional 215 shares during the period. AlphaCentric Advisors LLC grew its stake in shares of Disc Medicine by 5.8% during the 1st quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after purchasing an additional 216 shares during the period. Kennedy Capital Management LLC grew its stake in shares of Disc Medicine by 3.3% during the 4th quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock worth $740,000 after purchasing an additional 296 shares during the period. State of Wyoming purchased a new stake in Disc Medicine during the second quarter worth $25,000. Finally, Alliancebernstein L.P. grew its position in Disc Medicine by 1.7% during the third quarter. Alliancebernstein L.P. now owns 24,540 shares of the company’s stock valued at $1,622,000 after buying an additional 400 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

Shares of Disc Medicine stock opened at $79.23 on Monday. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The firm has a market capitalization of $303.45 million, a PE ratio of -12.04 and a beta of 0.97. The firm’s 50-day moving average price is $77.76 and its 200 day moving average price is $70.48.

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

Insider Transactions at Disc Medicine

In other news, Director Kevin Bitterman sold 49,164 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the transaction, the director directly owned 13,499 shares of the company’s stock, valued at approximately $1,082,214.83. This trade represents a 78.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 18,612 shares of the business’s 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 owned 54,324 shares in the company, valued at $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. Insiders sold a total of 208,108 shares of company stock valued at $15,799,739 in the last 90 days. 3.76% of the stock is owned by company insiders.

Analyst Ratings Changes

IRON has been the subject of a number of recent analyst reports. Wedbush lifted their price objective on shares of Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Wall Street Zen lowered Disc Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Disc Medicine in a report on Tuesday, September 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $90.00 price objective on shares of Disc Medicine in a report on Monday, August 17th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.70.

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.