Disc Medicine, Inc. (NASDAQ:IRON) Sees Significant Growth in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,000,000 shares, an increase of 6.4% from the May 31st total of 1,880,000 shares. Approximately 11.5% of the company’s shares are sold short. Based on an average trading volume of 516,100 shares, the days-to-cover ratio is presently 3.9 days.

Analyst Upgrades and Downgrades

IRON has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a report on Monday, April 8th. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a report on Friday, June 14th. BMO Capital Markets restated an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective (up from $43.00) on shares of Disc Medicine in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.57.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IRON. Adage Capital Partners GP L.L.C. grew its holdings in shares of Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after purchasing an additional 145,781 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Disc Medicine by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after buying an additional 127,404 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the period. Frazier Life Sciences Management L.P. grew its position in shares of Disc Medicine by 19.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after acquiring an additional 130,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock valued at $48,734,000 after acquiring an additional 18,207 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Down 10.4 %

NASDAQ IRON opened at $41.62 on Wednesday. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a 50 day moving average of $35.75 and a two-hundred day moving average of $49.95.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). As a group, analysts predict that Disc Medicine will post -4.47 EPS for the current year.

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.