Disc Medicine, Inc. (NASDAQ:IRON) Director Sells $797,228.61 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 13,033 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $61.17, for a total transaction of $797,228.61. Following the sale, the director owned 633,969 shares in the company, valued at approximately $38,779,883.73. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Kevin Bitterman also recently made the following trade(s):

• On Wednesday, July 23rd, Kevin Bitterman sold 29,837 shares of Disc Medicine stock. The shares were sold at an average price of $60.97, for a total transaction of $1,819,161.89.
• On Friday, July 18th, Kevin Bitterman sold 664 shares of Disc Medicine stock. The shares were sold at an average price of $61.13, for a total transaction of $40,590.32.

Disc Medicine Price Performance

NASDAQ IRON opened at $60.61 on Monday. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65. The firm has a market capitalization of $2.10 billion, a PE ratio of -15.46 and a beta of 0.76. The company’s 50 day simple moving average is $52.69 and its 200 day simple moving average is $51.34.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results 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). As a group, equities research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Analysts Set New Price Targets

IRON has been the topic of several analyst reports. Truist Financial initiated coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a “buy” rating and a $86.00 price target on the stock. Morgan Stanley initiated coverage on shares of Disc Medicine in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $85.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. BMO Capital Markets raised their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Disc Medicine in a research note on Monday, July 21st. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine has a consensus rating of “Buy” and a consensus target price of $95.73.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its position in Disc Medicine by 213.5% in the second quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after buying an additional 711 shares during the last quarter. Aberdeen Group plc acquired a new position in Disc Medicine in the second quarter worth approximately $1,698,000. KLP Kapitalforvaltning AS grew its position in Disc Medicine by 24.3% in the second quarter. KLP Kapitalforvaltning AS now owns 4,600 shares of the company’s stock worth $244,000 after buying an additional 900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Disc Medicine by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock worth $71,000 after buying an additional 181 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in Disc Medicine in the second quarter worth approximately $57,000. Institutional investors and hedge funds 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.