Legal & General Group Plc Invests $1.35 Million in Disc Medicine, Inc. $IRON

Legal & General Group Plc purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,458 shares of the company’s stock, valued at approximately $1,350,000. Legal & General Group Plc owned approximately 0.48% of Disc Medicine at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IRON. State of Wyoming purchased a new stake in Disc Medicine in the second quarter worth about $25,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine in the 4th quarter worth approximately $33,000. Allworth Financial LP purchased a new stake in shares of Disc Medicine in the 2nd quarter worth approximately $46,000. Persistent Asset Partners Ltd bought a new position in shares of Disc Medicine during the fourth quarter valued at approximately $141,000. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine during the second quarter valued at approximately $153,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

Shares of IRON stock opened at $79.23 on Monday. The stock’s fifty day moving average price is $77.76 and its 200 day moving average price is $70.48. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The company has a market cap of $303.45 million, a price-to-earnings ratio of -12.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. On average, research analysts expect that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction that occurred on 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 approximately $3,663,588.06. This represents a 12.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John D. Quisel sold 34,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at approximately $15,871,953.44. This represents a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 208,108 shares of company stock valued at $15,799,739. Company insiders own 3.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wedbush increased their target price on Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. HC Wainwright raised their price objective on Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Wall Street Zen lowered shares of Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $107.70.

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.