Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $470,625.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the sale, the insider now owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Disc Medicine Trading Down 2.8 %

Shares of NASDAQ:IRON opened at $62.04 on Tuesday. The stock has a market cap of $1.85 billion, a PE ratio of -15.59 and a beta of 0.75. The stock’s fifty day simple moving average is $62.21 and its two-hundred day simple moving average is $52.46. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. increased its position in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Logos Global Management LP purchased a new stake in Disc Medicine during the second quarter worth about $41,690,000. Point72 Asset Management L.P. purchased a new stake in Disc Medicine during the second quarter worth about $34,318,000. Deerfield Management Company L.P. Series C raised its position in Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after acquiring an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after acquiring an additional 303,954 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IRON shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank upped their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Finally, Wedbush reissued an “outperform” rating and issued a $83.00 price objective on shares of Disc Medicine in a research note on Monday, December 9th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $87.50.

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.