Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $470,625.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the completion of the transaction, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Disc Medicine Stock Down 2.8 %

NASDAQ:IRON traded down $1.78 on Monday, reaching $62.04. The company’s stock had a trading volume of 200,522 shares, compared to its average volume of 212,041. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -15.59 and a beta of 0.76. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The stock has a 50 day moving average price of $61.89 and a 200 day moving average price of $52.31.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Equities research analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

Analysts Set New Price Targets

IRON has been the topic of several research analyst reports. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Monday, December 9th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Disc Medicine has a consensus rating of “Buy” and an average target price of $87.50.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Disc Medicine by 89.4% in the second quarter. Bank of New York Mellon Corp now owns 51,050 shares of the company’s stock valued at $2,301,000 after buying an additional 24,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Disc Medicine in the second quarter valued at approximately $129,000. Rhumbline Advisers grew its holdings in shares of Disc Medicine by 86.2% in the second quarter. Rhumbline Advisers now owns 24,447 shares of the company’s stock valued at $1,102,000 after purchasing an additional 11,315 shares in the last quarter. TD Asset Management Inc increased its stake in Disc Medicine by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after buying an additional 1,468 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Disc Medicine by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock worth $14,064,000 after buying an additional 98,988 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.