Disc Medicine (NASDAQ:IRON) CEO Sells 34,000 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John Quisel sold 34,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at approximately $15,871,953.44. This represents a 13.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded down $0.35 during trading on Tuesday, reaching $70.45. The company had a trading volume of 537,249 shares, compared to its average volume of 585,545. The company has a fifty day moving average of $68.68 and a two-hundred day moving average of $71.50. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.69 billion, a P/E ratio of -10.64 and a beta of 0.93. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). Equities research analysts forecast that Disc Medicine, Inc. will post -6.74 earnings per share for the current year.

Institutional Trading of Disc Medicine

A number of institutional investors have recently made changes to their positions in IRON. Seven Fleet Capital Management LP purchased a new position in shares of Disc Medicine in the first quarter worth $207,000. Bank of America Corp DE boosted its position in Disc Medicine by 22.6% during the 1st quarter. Bank of America Corp DE now owns 166,775 shares of the company’s stock valued at $10,664,000 after buying an additional 30,789 shares during the period. California State Teachers Retirement System boosted its position in Disc Medicine by 47.8% during the 1st quarter. California State Teachers Retirement System now owns 34,382 shares of the company’s stock valued at $2,198,000 after buying an additional 11,126 shares during the period. SummitTX Capital L.P. bought a new stake in Disc Medicine in the 1st quarter worth $884,000. Finally, Octagon Capital Advisors LP bought a new stake in Disc Medicine in the 1st quarter worth $17,264,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Disc Medicine from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley raised their price objective on Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Monday, April 20th. Wedbush reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Finally, Truist Financial reduced their price target on shares of Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.80.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.