Key Points
- Director Kevin Bitterman sold 1,689 Disc Medicine shares for approximately $135,052 at an average price of $79.96, reducing his direct ownership by 11.17% to 13,427 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Bitterman also sold more than 54,000 additional shares between September 1 and September 3, including 49,164 shares sold for approximately $3.94 million on September 2.
- Disc Medicine has a “Moderate Buy” consensus rating from analysts, with a consensus price target of $107.70; the company recently beat quarterly earnings expectations, reporting a loss of $1.54 per share versus the expected $1.71 loss.
Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 1,689 shares of Disc Medicine stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $79.96, for a total value of $135,052.44. Following the completion of the transaction, the director directly owned 13,427 shares in the company, valued at approximately $1,073,622.92. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kevin Bitterman also recently made the following trade(s):
- On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94.
- On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.
- On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $10,313.55.
Disc Medicine Trading Down 0.4%
Disc Medicine stock opened at $76.51 on Thursday. The business has a 50 day moving average price of $77.96 and a two-hundred day moving average price of $70.76. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The stock has a market cap of $293.03 million, a price-to-earnings ratio of -11.63 and a beta of 0.97. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.
Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. As a group, equities analysts forecast that Disc Medicine, Inc. will post -6.61 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on IRON. Cantor Fitzgerald restated an "overweight" rating on shares of Disc Medicine in a research note on Tuesday, September 1st. BMO Capital Markets reiterated an "outperform" rating on shares of Disc Medicine in a research report on Thursday. Morgan Stanley reissued an "overweight" rating and issued a $90.00 target price on shares of Disc Medicine in a research note on Monday, August 17th. Jefferies Financial Group reissued a "buy" rating on shares of Disc Medicine in a research report on Thursday. Finally, Wedbush raised their price target on shares of Disc Medicine from $88.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Disc Medicine currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.70.
Get Our Latest Research Report on IRON
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in IRON. State of Wyoming acquired a new stake in shares of Disc Medicine during the 2nd quarter worth about $25,000. ANTIPODES PARTNERS Ltd bought a new stake in Disc Medicine during the fourth quarter worth about $33,000. Allworth Financial LP acquired a new stake in shares of Disc Medicine during the second quarter worth approximately $46,000. Nykredit A S bought a new position in shares of Disc Medicine in the second quarter valued at approximately $103,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $141,000. 83.70% of the stock is owned by institutional investors.
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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