Disc Medicine (NASDAQ:IRON) Stock Price Down 3% – Should You Sell?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) fell 3% during mid-day trading on Monday . The company traded as low as $51.86 and last traded at $52.09. 20,173 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 347,387 shares. The stock had previously closed at $53.71.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IRON. Raymond James Financial began coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 price objective for the company. Scotiabank raised their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Cantor Fitzgerald upped their price objective on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Morgan Stanley restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Tuesday. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $96.70.

Disc Medicine Trading Down 3.8%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. The stock has a market cap of $1.73 billion, a P/E ratio of -12.77 and a beta of 0.73. The company has a 50-day simple moving average of $46.44 and a 200-day simple moving average of $53.08.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, Director Mona Ashiya sold 5,738 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the transaction, the director now owns 186,541 shares of the company’s stock, valued at approximately $10,093,733.51. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Jacob Savage sold 2,996 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $50.00, for a total value of $149,800.00. Following the completion of the transaction, the insider now directly owns 56,725 shares in the company, valued at approximately $2,836,250. This trade represents a 5.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,522 shares of company stock worth $1,440,351. Corporate insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Sterling Capital Management LLC lifted its stake in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after buying an additional 503 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after purchasing an additional 219 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine during the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd raised its position in Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock valued at $47,000 after buying an additional 940 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.