Key Points
- Director Kevin Bitterman sold 27,136 Disc Medicine shares at an average price of $70.11, generating approximately $1.90 million. The sale reduced his position by 79.18%, leaving him with 7,136 shares.
- Bitterman also sold more than 56,000 additional shares in several transactions earlier in September, while institutional investors and hedge funds collectively own 83.70% of Disc Medicine.
- Analysts remain broadly positive on the stock, with 11 Buy ratings and an average price target of $109.55 versus shares opening at $67.30. Disc Medicine recently reported a smaller-than-expected quarterly loss and is developing bitopertin for serious hematologic diseases.
Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 27,136 shares of the business's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96. Following the sale, the director owned 7,136 shares in the company, valued at $500,304.96. The trade was a 79.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Kevin Bitterman also recently made the following trade(s):
- On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The shares were sold at an average price of $79.96, for a total transaction of $135,052.44.
- 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 shares were sold at an average price of $80.17, for a total transaction 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 Price Performance
Shares of NASDAQ IRON opened at $67.30 on Wednesday. The business's 50 day moving average price is $77.38 and its 200 day moving average price is $70.91. The firm has a market cap of $257.76 million, a P/E ratio of -10.23 and a beta of 0.97. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a 52 week low of $40.00 and a 52 week high of $99.50.
Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping analysts' consensus estimates of ($1.71) by $0.17. On average, sell-side analysts expect that Disc Medicine, Inc. will post -6.61 earnings per share for the current year.
Hedge Funds Weigh In On Disc Medicine
A number of hedge funds have recently made changes to their positions in IRON. State of Wyoming acquired a new stake in shares of Disc Medicine in the second quarter worth approximately $25,000. Allworth Financial LP acquired a new position in Disc Medicine in the 2nd quarter valued at $46,000. Nykredit A S purchased a new position in Disc Medicine in the 2nd quarter valued at $103,000. Quantbot Technologies LP purchased a new position in Disc Medicine in the 2nd quarter valued at $153,000. Finally, Saxon Interests Inc. acquired a new stake in Disc Medicine during the 4th quarter worth $205,000. Institutional investors and hedge funds own 83.70% of the company's stock.
Analyst Ratings Changes
IRON has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $90.00 price objective on shares of Disc Medicine in a report on Monday, August 17th. BMO Capital Markets reiterated an "outperform" rating on shares of Disc Medicine in a research report on Thursday, September 10th. Jefferies Financial Group reissued a "buy" rating and issued a $128.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Wedbush restated an "outperform" rating and issued a $100.00 price objective on shares of Disc Medicine in a research report on Thursday, September 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.55.
View Our Latest Analysis on Disc Medicine
About Disc Medicine
(
Get Free Report)
Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.
Disc Medicine's lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.
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