Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 7,500 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total transaction of $416,550.00. Following the transaction, the insider now directly owns 14,035 shares of the company’s stock, valued at $779,503.90. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Rahul Khara also recently made the following trade(s):

• On Thursday, January 2nd, Rahul Khara sold 7,500 shares of Disc Medicine stock. The shares were sold at an average price of $62.75, for a total value of $470,625.00.

Disc Medicine Price Performance

Disc Medicine stock opened at $56.29 on Friday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -14.14 and a beta of 0.74. The firm has a 50-day moving average of $61.33 and a two-hundred day moving average of $54.32. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IRON. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Wedbush reissued an “outperform” rating and issued a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $88.90.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the period. Quest Partners LLC bought a new stake in shares of Disc Medicine in the 3rd quarter valued at about $131,000. Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the 3rd quarter worth approximately $146,000. Intech Investment Management LLC bought a new position in shares of Disc Medicine during the third quarter valued at approximately $228,000. Finally, SG Americas Securities LLC increased its holdings in Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares during the period. Institutional investors own 83.70% of the company’s stock.

About Disc Medicine

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.