Kevin Bitterman Sells 45,507 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 45,507 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $92.39, for a total value of $4,204,391.73. Following the completion of the sale, the director directly owned 41,519 shares of the company’s stock, valued at $3,835,940.41. The trade was a 52.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, December 16th, Kevin Bitterman sold 68,923 shares of Disc Medicine stock. The shares were sold at an average price of $91.24, for a total transaction of $6,288,534.52.
• On Monday, December 15th, Kevin Bitterman sold 62,693 shares of Disc Medicine stock. The stock was sold at an average price of $91.28, for a total transaction of $5,722,617.04.
• On Monday, December 15th, Kevin Bitterman sold 7,000 shares of Disc Medicine stock. The shares were sold at an average price of $91.87, for a total transaction of $643,090.00.
• On Friday, October 17th, Kevin Bitterman sold 70,000 shares of Disc Medicine stock. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00.
• On Thursday, October 16th, Kevin Bitterman sold 1,425 shares of Disc Medicine stock. The shares were sold at an average price of $77.11, for a total value of $109,881.75.
• On Wednesday, October 15th, Kevin Bitterman sold 22,160 shares of Disc Medicine stock. The stock was sold at an average price of $77.23, for a total value of $1,711,416.80.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38.
• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The shares were sold at an average price of $68.38, for a total value of $1,233,506.82.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded down $0.53 during mid-day trading on Tuesday, reaching $91.47. 639,414 shares of the company’s stock were exchanged, compared to its average volume of 536,679. The firm has a 50-day moving average price of $86.99 and a two-hundred day moving average price of $68.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -17.10 and a beta of 0.87. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $99.50.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.29). Analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Raymond James Financial restated a “strong-buy” rating and set a $117.00 price target on shares of Disc Medicine in a research note on Monday, December 8th. Cantor Fitzgerald increased their price objective on Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Wednesday, October 8th. Stifel Nicolaus started coverage on Disc Medicine in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 price target on the stock. Finally, Wedbush lifted their price objective on Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.00.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently made changes to their positions in IRON. Vanguard Group Inc. lifted its position in Disc Medicine by 22.2% during the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock valued at $64,782,000 after purchasing an additional 236,800 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Disc Medicine by 18.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 194,725 shares of the company’s stock valued at $9,666,000 after buying an additional 29,653 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Disc Medicine by 11.5% during the 1st quarter. Swiss National Bank now owns 35,900 shares of the company’s stock worth $1,782,000 after acquiring an additional 3,700 shares during the last quarter. Invesco Ltd. grew its position in Disc Medicine by 27.1% in the first quarter. Invesco Ltd. now owns 13,834 shares of the company’s stock worth $687,000 after acquiring an additional 2,953 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Disc Medicine in the first quarter worth $5,595,000. 83.70% of the stock is owned by institutional investors.

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.