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 Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now owns 14,035 shares in the company, valued at approximately $880,696.25. This represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Disc Medicine Stock Down 2.8 %

Shares of NASDAQ IRON traded down $1.78 during mid-day trading on Monday, hitting $62.04. 200,522 shares of the company were exchanged, compared to its average volume of 212,041. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -15.59 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 stock has a 50 day simple moving average of $61.89 and a 200-day simple moving average of $52.31.

Disc Medicine (NASDAQ:IRON) last released its 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. Analysts anticipate that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRON has been the topic of several research analyst reports. 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. Scotiabank boosted their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued 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 objective on shares of Disc Medicine in a report on Monday, December 9th. 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 currently has an average rating of “Buy” and a consensus target price of $87.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in 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 in the last quarter. State Street Corp raised its position in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after acquiring an additional 235,115 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Disc Medicine in the second quarter valued at about $34,318,000. Verition Fund Management LLC purchased a new position in shares of Disc Medicine during the 3rd quarter worth approximately $589,000. Finally, Frazier Life Sciences Management L.P. grew its holdings in Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.