Insider Selling: Disc Medicine (NASDAQ:IRON) Insider Sells $1,364,418.15 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Savage sold 16,035 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $85.09, for a total value of $1,364,418.15. Following the sale, the insider directly owned 63,445 shares in the company, valued at approximately $5,398,535.05. The trade was a 20.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Disc Medicine Price Performance

Disc Medicine stock traded down $3.85 during midday trading on Thursday, reaching $83.23. 761,213 shares of the company were exchanged, compared to its average volume of 679,006. The firm’s 50-day simple moving average is $71.52 and its 200-day simple moving average is $71.05. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of -13.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 24.14 and a current ratio of 20.30.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10. On average, analysts anticipate that Disc Medicine, Inc. will post -6.20 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Disc Medicine during the second quarter worth approximately $180,502,000. Wellington Management Group LLP raised its stake in Disc Medicine by 0.3% during the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after purchasing an additional 5,975 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Disc Medicine by 191.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock valued at $73,280,000 after purchasing an additional 735,300 shares during the last quarter. Opaleye Management Inc. boosted its holdings in shares of Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after purchasing an additional 434,000 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of Disc Medicine by 36.4% in the 3rd quarter. Aberdeen Group plc now owns 597,841 shares of the company’s stock valued at $39,135,000 after purchasing an additional 159,667 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRON. Guggenheim began coverage on shares of Disc Medicine in a research report on Monday. They issued a “buy” rating and a $132.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Morgan Stanley lifted their target price on shares of Disc Medicine from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday, October 15th. Finally, Wells Fargo & Company boosted their price target on Disc Medicine from $86.00 to $124.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.18.

Disc Medicine Company Profile

Disc Medicine, Inc. is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function. The company’s development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.