Disc Medicine (NASDAQ:IRON) Director Sells $424,694.40 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 5,312 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $79.95, for a total value of $424,694.40. Following the sale, the director directly owned 13,257 shares of the company’s stock, valued at $1,059,897.15. This trade represents a 28.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Kevin Bitterman sold 25,519 shares of Disc Medicine stock. The shares were sold at an average price of $80.23, for a total value of $2,047,389.37.
• On Monday, October 19th, Kevin Bitterman sold 10,994 shares of Disc Medicine stock. The shares were sold at an average price of $79.97, for a total value of $879,190.18.
• On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The shares were sold at an average price of $70.11, for a total value of $1,902,504.96.
• 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 transaction of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The shares were sold at an average price of $80.17, for a total transaction 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 transaction of $10,313.55.

Disc Medicine Stock Performance

Shares of IRON opened at $74.51 on Friday. The company’s fifty day moving average is $71.25 and its 200-day moving average is $71.56. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -11.32 and a beta of 0.93. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.17. Equities analysts expect that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

Analysts Set New Price Targets

IRON has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Disc Medicine from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday. Wall Street Zen lowered Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Cantor Fitzgerald increased their price objective on Disc Medicine from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Wells Fargo & Company raised their price objective on Disc Medicine from $86.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wedbush boosted their target price on Disc Medicine from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in Disc Medicine by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock valued at $501,000 after purchasing an additional 160 shares during the period. AlphaCentric Advisors LLC grew its holdings in Disc Medicine by 5.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock valued at $254,000 after buying an additional 216 shares during the last quarter. State of Wyoming acquired a new stake in Disc Medicine in the 2nd quarter valued at approximately $25,000. Entropy Technologies LP increased its position in Disc Medicine by 9.9% in the 1st quarter. Entropy Technologies LP now owns 4,788 shares of the company’s stock worth $306,000 after buying an additional 431 shares during the period. Finally, Allworth Financial LP bought a new position in Disc Medicine in the 2nd quarter worth approximately $46,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.