Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 7,500 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the transaction, the insider now owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This represents a 34.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Disc Medicine Trading Down 0.1 %

Shares of NASDAQ IRON opened at $62.00 on Wednesday. The stock has a market cap of $1.84 billion, a PE ratio of -15.58 and a beta of 0.75. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The company has a 50-day moving average of $62.53 and a 200 day moving average of $52.59.

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

Analyst Ratings Changes

Several analysts have commented on IRON shares. Stifel Nicolaus raised their price objective on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Scotiabank boosted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Monday, December 9th. Wedbush reissued an “outperform” rating and set a $83.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus price target of $87.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Amalgamated Bank increased its position in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $129,000. Quest Partners LLC purchased a new stake in shares of Disc Medicine during the 3rd quarter valued at approximately $131,000. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine in the third quarter worth approximately $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

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.