Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 1,957 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director William Richard White sold 1,957 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

William Richard White also recently made the following trade(s):

• On Friday, November 1st, William Richard White sold 201 shares of Disc Medicine stock. The stock was sold at an average price of $46.37, for a total transaction of $9,320.37.
• On Monday, November 4th, William Richard White sold 7,136 shares of Disc Medicine stock. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96.
• On Tuesday, October 1st, William Richard White sold 201 shares of Disc Medicine stock. The shares were sold at an average price of $51.31, for a total transaction of $10,313.31.

Disc Medicine Price Performance

Shares of IRON stock opened at $64.82 on Friday. The firm has a market cap of $1.93 billion, a P/E ratio of -16.29 and a beta of 0.76. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The firm’s 50-day simple moving average is $55.65 and its 200-day simple moving average is $48.38.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Amalgamated Bank raised its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $54,000 after buying an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Disc Medicine in the second quarter valued at approximately $129,000. Quest Partners LLC purchased a new position in shares of Disc Medicine in the 3rd quarter valued at $131,000. Finally, Quantbot Technologies LP purchased a new position in shares of Disc Medicine in the 3rd quarter valued at $146,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IRON. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Scotiabank upped their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. HC Wainwright upped their target price on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Disc Medicine has an average rating of “Buy” and an average price target of $85.80.

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.