Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $149,800.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 2,996 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the transaction, the insider now owns 56,725 shares in the company, valued at approximately $2,836,250. The trade was a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

William Jacob Savage also recently made the following trade(s):

• On Tuesday, May 20th, William Jacob Savage sold 6,677 shares of Disc Medicine stock. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08.
• On Friday, May 2nd, William Jacob Savage sold 2,100 shares of Disc Medicine stock. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $50.86 on Thursday. The company has a market capitalization of $1.76 billion, a P/E ratio of -12.78 and a beta of 0.73. The business has a 50-day moving average of $45.20 and a two-hundred day moving average of $53.48. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). On average, equities analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IRON. Renaissance Technologies LLC bought a new stake in Disc Medicine in the 4th quarter valued at $5,479,000. Barclays PLC lifted its holdings in shares of Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock valued at $1,972,000 after purchasing an additional 22,202 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Disc Medicine during the fourth quarter worth about $335,000. Deutsche Bank AG boosted its position in shares of Disc Medicine by 75.7% during the fourth quarter. Deutsche Bank AG now owns 16,093 shares of the company’s stock worth $1,020,000 after buying an additional 6,933 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Disc Medicine during the fourth quarter worth about $5,579,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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. 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. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Cantor Fitzgerald upped their price target on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Raymond James began coverage on shares of Disc Medicine in a research report on Wednesday. They issued a “strong-buy” rating and a $89.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and a consensus price target of $96.70.

About Disc Medicine

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.