Disc Medicine (NASDAQ:IRON) Shares Gap Down – Should You Sell?

Disc Medicine, Inc. (NASDAQ:IRON) shares gapped down prior to trading on Monday . The stock had previously closed at $49.51, but opened at $47.00. Disc Medicine shares last traded at $47.59, with a volume of 33,326 shares trading hands.

Analyst Upgrades and Downgrades

IRON has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Scotiabank upped their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald lifted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $93.80.

Disc Medicine Price Performance

The stock has a 50-day moving average price of $47.96 and a 200 day moving average price of $55.13. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -12.07 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.08. Sell-side analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the transaction, the chief operating officer now owns 40,555 shares in the company, valued at approximately $2,213,491.90. This trade represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mona Ashiya sold 10,011 shares of Disc Medicine stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.00, for a total value of $540,594.00. Following the sale, the director now directly owns 187,297 shares of the company’s stock, valued at $10,114,038. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,190 shares of company stock valued at $19,231,544. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its holdings in Disc Medicine by 123.7% in the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after acquiring an additional 22,202 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Disc Medicine by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after purchasing an additional 2,257 shares in the last quarter. SG Americas Securities LLC lifted its position in Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock worth $512,000 after purchasing an additional 3,212 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after buying an additional 593 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in Disc Medicine in the fourth quarter valued at approximately $486,000. 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.