Lazard Asset Management LLC Lowers Stock Position in Disc Medicine, Inc. $IRON

Lazard Asset Management LLC trimmed its stake in Disc Medicine, Inc. (NASDAQ:IRON) by 32.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 39,400 shares of the company’s stock after selling 18,653 shares during the period. Lazard Asset Management LLC owned about 0.10% of Disc Medicine worth $2,519,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Disc Medicine by 22.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after purchasing an additional 2,807 shares during the last quarter. Millennium Management LLC lifted its stake in Disc Medicine by 1,277.1% during the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after purchasing an additional 100,620 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Disc Medicine by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after buying an additional 3,454 shares during the period. Legal & General Group Plc grew its stake in shares of Disc Medicine by 18.0% in the second quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after buying an additional 3,682 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Disc Medicine by 21.6% in the second quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after buying an additional 2,983 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRON has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday. Wedbush reissued an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a report on Wednesday, June 10th. Finally, Morgan Stanley increased their price objective on Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.44.

Insider Activity

In related news, 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 completion of the sale, the insider owned 52,173 shares in the company, valued at $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the company’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 105,712 shares of company stock worth $7,597,536 in the last 90 days. 3.76% of the stock is currently owned by corporate insiders.

Disc Medicine Price Performance

Shares of IRON opened at $77.00 on Monday. The firm has a market capitalization of $2.94 billion, a PE ratio of -11.70 and a beta of 1.00. The stock’s 50 day moving average is $72.74 and its two-hundred day moving average is $69.62. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. 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 (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Research analysts anticipate that Disc Medicine, Inc. will post -6.75 earnings per share for the current year.

About Disc Medicine

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.