Disc Medicine, Inc. (NASDAQ:IRON) CFO Sells $171,162.88 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CFO Jean M. Franchi sold 3,136 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $171,162.88. Following the completion of the transaction, the chief financial officer now directly owns 69,530 shares in the company, valued at $3,794,947.40. This represents a 4.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Disc Medicine Trading Down 0.2 %

Shares of IRON traded down $0.11 during midday trading on Thursday, hitting $54.35. The stock had a trading volume of 369,811 shares, compared to its average volume of 402,546. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The business has a 50-day simple moving average of $59.46 and a two-hundred day simple moving average of $55.02. The firm has a market cap of $1.62 billion, a P/E ratio of -13.66 and a beta of 0.73.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IRON. 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 research note on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine currently has an average rating of “Buy” and an average price target of $88.90.

Institutional Trading of Disc Medicine

Several institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine during the fourth quarter worth approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Disc Medicine by 399.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock worth $5,903,000 after purchasing an additional 74,454 shares during the period. Woodline Partners LP boosted its holdings in shares of Disc Medicine by 5.2% during the fourth quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock worth $25,144,000 after purchasing an additional 19,538 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Disc Medicine by 26.5% during the fourth quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock worth $442,000 after purchasing an additional 1,458 shares during the period. Finally, MPM Bioimpact LLC boosted its holdings in shares of Disc Medicine by 11.1% during the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock worth $21,962,000 after purchasing an additional 34,640 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.