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 company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.54, for a total transaction of $416,550.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at $779,503.90. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rahul Khara also recently made the following trade(s):

• On Thursday, January 2nd, Rahul Khara sold 7,500 shares of Disc Medicine stock. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00.

Disc Medicine Trading Down 1.2 %

Shares of IRON stock opened at $54.32 on Wednesday. The company has a market cap of $1.62 billion, a PE ratio of -13.65 and a beta of 0.74. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The business’s fifty day simple moving average is $61.66 and its 200-day simple moving average is $54.29.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, equities analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analyst Ratings Changes

IRON has been the subject of a number of research analyst reports. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Jefferies Financial Group began 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. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus lifted their price objective 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $88.90.

Institutional Trading of Disc Medicine

A number of institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Disc Medicine by 68.2% during the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after purchasing an additional 303,954 shares in the last quarter. State Street Corp grew its holdings in shares of Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Disc Medicine by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares during the period. Walleye Capital LLC raised its stake in Disc Medicine by 53.7% in the 3rd quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock worth $10,282,000 after acquiring an additional 73,140 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after acquiring an additional 70,983 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.