Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells $310,483.18 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 5,738 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the transaction, the director now directly owns 186,541 shares of the company’s stock, valued at approximately $10,093,733.51. The trade was a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Mona Ashiya also recently made the following trade(s):

• On Friday, March 21st, Mona Ashiya sold 10,011 shares of Disc Medicine stock. The shares were sold at an average price of $54.00, for a total value of $540,594.00.
• On Wednesday, March 19th, Mona Ashiya sold 39,656 shares of Disc Medicine stock. The stock was sold at an average price of $54.02, for a total value of $2,142,217.12.
• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The shares were sold at an average price of $54.45, for a total value of $4,529,259.90.
• On Monday, March 10th, Mona Ashiya sold 202,146 shares of Disc Medicine stock. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34.

Disc Medicine Trading Down 0.2 %

IRON stock opened at $52.36 on Friday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $68.73. The business’s 50 day simple moving average is $54.64 and its 200 day simple moving average is $56.10. The firm has a market capitalization of $1.81 billion, a PE ratio of -13.16 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, sell-side analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently bought and sold shares of IRON. Geode Capital Management LLC increased its stake in shares of Disc Medicine by 17.6% during the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the period. State Street Corp increased its position in Disc Medicine by 39.7% during the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares during the period. Verition Fund Management LLC bought a new position in Disc Medicine during the 3rd quarter worth $589,000. Charles Schwab Investment Management Inc. boosted its position in shares of Disc Medicine by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after acquiring an additional 19,401 shares during the period. Finally, Barclays PLC grew its stake in shares of Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after acquiring an additional 22,202 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank boosted their price objective on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen started coverage on shares of Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $93.80.

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.