Disc Medicine (NASDAQ:IRON) Stock Price Down 3% – Time to Sell?

Disc Medicine, Inc. (NASDAQ:IRON) was down 3% on Friday . The company traded as low as $61.07 and last traded at $61.07. Approximately 29,558 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 345,359 shares. The stock had previously closed at $62.95.

Wall Street Analyst Weigh In

IRON has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. 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 report on Tuesday, November 5th. Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. Finally, Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research 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. Based on data from MarketBeat, Disc Medicine currently has an average rating of “Buy” and a consensus target price of $87.50.

Disc Medicine Price Performance

The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -16.28 and a beta of 0.76. The business has a fifty day moving average of $58.50 and a 200 day moving average of $50.33.

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

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 1,957 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John D. Quisel sold 12,791 shares of Disc Medicine stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,627 shares of company stock valued at $2,883,150 over the last three months. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. 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 valued at $54,000 after buying an additional 337 shares in the last quarter. Quest Partners LLC bought a new position in Disc Medicine in the third quarter valued at approximately $131,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine in the second quarter valued at approximately $129,000. Finally, Quantbot Technologies LP bought a new stake in shares of Disc Medicine during the third quarter worth $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.