Key Points
- Disc Medicine insider Rahul Khara sold 7,500 shares on June 18 at an average price of $70.22, totaling about $526,650. After the sale, he still owned 52,173 shares, a 12.57% reduction in his position.
- IRON was slightly lower in trading, opening at $70.45 and down 0.5% on the day. The stock remains near its 50-day average of $68.76 and below its 200-day average of $71.34.
- Analysts remain mostly constructive on Disc Medicine, with an average rating of “Moderate Buy” and an average price target of $105.80. However, the company recently posted a quarterly loss of $1.65 per share, narrowly missing estimates.
Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the completion of the transaction, the insider owned 52,173 shares in the company, valued at $3,663,588.06. This trade represents a 12.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Disc Medicine Stock Down 0.5%
NASDAQ:IRON opened at $70.45 on Wednesday. The company's 50-day simple moving average is $68.76 and its 200-day simple moving average is $71.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The stock has a market capitalization of $2.69 billion, a P/E ratio of -10.64 and a beta of 0.93.
Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.62) by ($0.03). On average, equities analysts anticipate that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Disc Medicine
A number of large investors have recently made changes to their positions in IRON. Assenagon Asset Management S.A. increased its position in Disc Medicine by 3,329.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 357,836 shares of the company's stock worth $28,416,000 after purchasing an additional 347,403 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Disc Medicine in the third quarter valued at $6,752,000. Vanguard Group Inc. lifted its position in shares of Disc Medicine by 3.7% during the third quarter. Vanguard Group Inc. now owns 1,448,059 shares of the company's stock worth $95,688,000 after purchasing an additional 51,323 shares in the last quarter. SG Americas Securities LLC boosted its position in Disc Medicine by 161.9% in the 4th quarter. SG Americas Securities LLC now owns 21,122 shares of the company's stock valued at $1,677,000 after buying an additional 13,058 shares during the period. Finally, First Light Asset Management LLC acquired a new position in Disc Medicine during the 3rd quarter worth $15,277,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Truist Financial dropped their price target on Disc Medicine from $114.00 to $83.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company upped their target price on Disc Medicine from $78.00 to $79.00 and gave the company an "overweight" rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a research note on Monday, April 20th. Finally, Wall Street Zen raised Disc Medicine from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $105.80.
Check Out Our Latest Report on Disc Medicine
Disc Medicine Company Profile
(
Get Free Report)
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.
The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.
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