Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 27,136 Shares

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 27,136 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $70.11, for a total transaction of $1,902,504.96. Following the sale, the director owned 7,136 shares in the company, valued at $500,304.96. The trade was a 79.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The stock was sold at an average price of $79.96, for a total value of $135,052.44.
• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The shares were sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total value of $10,313.55.

Disc Medicine Trading Down 2.4%

IRON stock opened at $67.30 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The business has a 50 day simple moving average of $77.38 and a two-hundred day simple moving average of $70.91. The company has a market capitalization of $257.76 million, a price-to-earnings ratio of -10.23 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.17. Research analysts anticipate that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently modified their holdings of IRON. Opaleye Management Inc. raised its stake in shares of Disc Medicine by 103.1% during the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Disc Medicine by 110.9% in the second quarter. Engineers Gate Manager LP now owns 19,552 shares of the company’s stock worth $1,430,000 after purchasing an additional 10,282 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Disc Medicine by 139.3% in the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock worth $5,549,000 after purchasing an additional 44,163 shares during the last quarter. Arizona State Retirement System increased its position in shares of Disc Medicine by 2.4% during the second quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock worth $501,000 after purchasing an additional 160 shares in the last quarter. Finally, Nykredit A S acquired a new position in shares of Disc Medicine during the second quarter worth $103,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IRON. HC Wainwright reiterated a “buy” rating and issued a $120.00 price target on shares of Disc Medicine in a research report on Thursday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a report on Tuesday, September 1st. Morgan Stanley restated an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, August 17th. Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.55.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.