Disc Medicine (NASDAQ:IRON) Trading Up 6%

Disc Medicine, Inc. (NASDAQ:IRON)’s share price was up 6% during mid-day trading on Wednesday . The company traded as high as $44.10 and last traded at $44.10. Approximately 14,411 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 419,077 shares. The stock had previously closed at $41.62.

Analyst Ratings Changes

A number of research analysts recently issued reports on IRON shares. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a report on Friday, June 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 price target (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Morgan Stanley cut their price target 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 Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Raymond James lifted their price objective on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.57.

Disc Medicine Stock Up 6.8 %

The stock has a 50-day moving average of $36.45 and a 200 day moving average of $49.87.

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

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently modified their holdings of the stock. Strs Ohio lifted its holdings in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after purchasing an additional 400 shares in the last quarter. AJOVista LLC bought a new position in shares of Disc Medicine during the 4th quarter valued at about $63,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Disc Medicine during the 4th quarter valued at about $161,000. ProShare Advisors LLC bought a new position in shares of Disc Medicine during the 1st quarter valued at about $211,000. Finally, Simplicity Solutions LLC bought a new position in shares of Disc Medicine during the 4th quarter valued at about $215,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.