Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) COO Sells 1,610 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) COO Jonathan Yen-Wen Yu sold 1,610 shares of Disc Medicine stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the completion of the transaction, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. This represents a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Disc Medicine Trading Down 0.2 %

Shares of Disc Medicine stock traded down $0.11 during trading hours on Thursday, reaching $54.35. The stock had a trading volume of 369,811 shares, compared to its average volume of 402,546. The stock’s 50 day moving average is $59.46 and its 200 day moving average is $55.02. The firm has a market capitalization of $1.62 billion, a PE ratio of -13.66 and a beta of 0.73. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRON. Sterling Capital Management LLC raised its position in shares of Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 503 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine during the 4th quarter worth about $40,000. Tower Research Capital LLC TRC raised its position in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 purchasing an additional 337 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Disc Medicine during the 3rd quarter worth about $131,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

IRON has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $88.90.

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.