Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) insider William Savage sold 16,035 shares of the firm's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $85.09, for a total value of $1,364,418.15. Following the completion of the sale, the insider directly owned 63,445 shares of the company's stock, valued at approximately $5,398,535.05. This trade represents a 20.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Disc Medicine Price Performance
Shares of NASDAQ IRON opened at $83.23 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 24.14 and a current ratio of 20.30. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50. The firm has a market capitalization of $318.77 million, a P/E ratio of -13.13 and a beta of 0.96. The company's fifty day moving average is $71.59 and its two-hundred day moving average is $71.08.
Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.63) by $0.10. Analysts forecast that Disc Medicine, Inc. will post -6.20 EPS for the current fiscal year.
Hedge Funds Weigh In On Disc Medicine
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. BlackRock Inc. purchased a new stake in shares of Disc Medicine in the second quarter valued at about $180,502,000. Wellington Management Group LLP raised its position in shares of Disc Medicine by 0.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock worth $127,362,000 after purchasing an additional 5,975 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Disc Medicine by 191.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company's stock worth $73,280,000 after purchasing an additional 735,300 shares during the last quarter. Opaleye Management Inc. lifted its stake in Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock valued at $62,535,000 after buying an additional 434,000 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Disc Medicine by 14.7% in the 1st quarter. Jennison Associates LLC now owns 610,382 shares of the company's stock valued at $39,028,000 after buying an additional 78,303 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on IRON. Cantor Fitzgerald upped their target price on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, October 19th. Morgan Stanley lifted their price target on shares of Disc Medicine from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Tuesday, October 20th. Wedbush boosted their price target on Disc Medicine from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, October 19th. Guggenheim assumed coverage on Disc Medicine in a research note on Monday. They set a "buy" rating and a $132.00 price target on the stock. Finally, Truist Financial upped their price target on Disc Medicine from $83.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, October 19th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.18.
Check Out Our Latest Stock Analysis on Disc Medicine
About Disc Medicine
(
Get Free Report)
Disc Medicine, Inc. is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function. The company's development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.
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