Armistice Capital LLC Buys 63,391 Shares of Disc Medicine, Inc. $IRON

Armistice Capital LLC grew its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,391 shares of the company’s stock after purchasing an additional 63,391 shares during the period. Armistice Capital LLC owned approximately 1.32% of Disc Medicine worth $39,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine in the fourth quarter worth approximately $33,000. Aster Capital Management DIFC Ltd purchased a new position in Disc Medicine during the 3rd quarter worth $38,000. KBC Group NV purchased a new position in shares of Disc Medicine in the 4th quarter valued at $80,000. Persistent Asset Partners Ltd purchased a new position in shares of Disc Medicine in the 4th quarter valued at $141,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Disc Medicine by 36.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock valued at $146,000 after acquiring an additional 490 shares during the period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Disc Medicine

In related news, CFO Jean M. Franchi sold 6,257 shares of the stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $69.24, for a total value of $433,234.68. Following the completion of the transaction, the chief financial officer directly owned 64,333 shares in the company, valued at approximately $4,454,416.92. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William Jacob Savage sold 5,731 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $66.38, for a total value of $380,423.78. Following the completion of the transaction, the insider owned 79,480 shares in the company, valued at approximately $5,275,882.40. The trade was a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,388 shares of company stock valued at $841,258 over the last quarter. 3.76% of the stock is currently owned by company insiders.

Disc Medicine Price Performance

IRON stock opened at $70.21 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00. The business has a 50 day simple moving average of $68.44 and a 200-day simple moving average of $71.93. The firm has a market capitalization of $2.68 billion, a PE ratio of -10.61 and a beta of 0.93. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.62) by ($0.03). Equities research analysts anticipate that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IRON shares. Wedbush restated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Wells Fargo & Company boosted their price objective on Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Finally, Truist Financial reduced their price target on Disc Medicine from $114.00 to $83.00 and set a “buy” rating for the company in a report on Friday, February 27th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Disc Medicine presently has an average rating of “Moderate Buy” and an average target price of $105.80.

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.