Disc Medicine (NASDAQ:IRON) Shares Gap Down – Should You Sell?

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $60.52, but opened at $58.00. Disc Medicine shares last traded at $58.12, with a volume of 61,726 shares traded.

Analyst Ratings Changes

IRON has been the subject of several research reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Stifel Nicolaus upped their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. 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 has a consensus rating of “Buy” and an average target price of $88.50.

Get Our Latest Stock Analysis on Disc Medicine

Disc Medicine Stock Performance

The stock has a 50 day moving average price of $62.66 and a two-hundred day moving average price of $53.72.

Disc Medicine (NASDAQ:IRONGet Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, equities research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the sale, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This trade represents a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,758 shares of company stock worth $5,400,990. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after purchasing an additional 83,731 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in Disc Medicine by 123.5% in 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 period. Deerfield Management Company L.P. Series C increased its stake in Disc Medicine by 53.8% during the 2nd 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. State Street Corp lifted its position in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Disc Medicine in the second quarter valued at approximately $34,318,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Disc Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Disc Medicine and related companies with MarketBeat.com's FREE daily email newsletter.