Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $806,093.40 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 13,012 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $61.95, for a total transaction of $806,093.40. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,464,426.75. The trade was a 15.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Disc Medicine Stock Up 2.2 %

Shares of NASDAQ IRON opened at $63.82 on Friday. The firm’s 50-day moving average price is $61.89 and its two-hundred day moving average price is $52.25. Disc Medicine, Inc. has a 52-week low of $25.60 and a 52-week high of $77.60. The stock has a market capitalization of $1.90 billion, a P/E ratio of -16.04 and a beta of 0.75.

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, topping the consensus estimate of ($1.04) by $0.15. As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the period. Logos Global Management LP acquired a new stake in shares of Disc Medicine in the second quarter valued at approximately $41,690,000. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine during the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C boosted its position in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Disc Medicine by 68.2% in the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after buying an additional 303,954 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

IRON has been the subject of a number of recent analyst reports. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Morgan Stanley upgraded 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 research note on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group started coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $87.50.

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.