Disc Medicine, Inc. (NASDAQ:IRON) Sees Large Increase in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,480,000 shares, an increase of 9.6% from the August 15th total of 1,350,000 shares. Based on an average daily trading volume, of 297,200 shares, the short-interest ratio is presently 5.0 days. Approximately 9.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several analysts recently issued reports on IRON shares. Wells Fargo & Company started coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, May 28th. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and a consensus price target of $64.13.

Disc Medicine Stock Up 0.6 %

IRON stock traded up $0.30 during midday trading on Wednesday, reaching $47.65. The company had a trading volume of 147,939 shares, compared to its average volume of 356,980. The firm has a market capitalization of $1.18 billion, a PE ratio of -14.10 and a beta of 0.59. The stock has a 50 day moving average price of $46.97 and a 200 day moving average price of $43.43. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. Research analysts predict that Disc Medicine will post -4.19 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of IRON. Frazier Life Sciences Management L.P. grew its holdings in Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after buying an additional 969,834 shares in the last quarter. Logos Global Management LP bought a new stake in Disc Medicine during the 2nd quarter valued at $41,690,000. Point72 Asset Management L.P. acquired a new position in Disc Medicine during the 2nd quarter worth $34,318,000. Deerfield Management Company L.P. Series C grew its stake in shares of Disc Medicine by 53.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.