Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 3,137 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Pamela Stephenson sold 3,137 shares of Disc Medicine stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the sale, the insider now directly owns 69,529 shares of the company’s stock, valued at $3,794,892.82. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Disc Medicine Stock Performance

IRON opened at $54.52 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -13.70 and a beta of 0.73. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The business’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $55.19.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IRON shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Stifel Nicolaus lifted their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank lifted their target price on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and a consensus target price of $88.90.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently added to or reduced their stakes in IRON. Sterling Capital Management LLC increased its position in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after acquiring an additional 503 shares during the period. GF Fund Management CO. LTD. acquired a new position in Disc Medicine in the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC increased its position in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% in the 3rd 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. Finally, Quest Partners LLC acquired a new position in Disc Medicine in the 3rd quarter valued at about $131,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.