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 the 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 transaction, the insider now directly owns 14,035 shares of the company’s stock, valued at $880,696.25. This represents a 34.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Disc Medicine Trading Up 0.9 %

Disc Medicine stock opened at $62.54 on Thursday. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a fifty day simple moving average of $62.87 and a two-hundred day simple moving average of $52.66. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -15.71 and a beta of 0.75.

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

Institutional Investors Weigh In On Disc Medicine

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

Analyst Ratings Changes

Several brokerages recently weighed in on IRON. Jefferies Financial Group initiated coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Scotiabank boosted their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.