Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $928,277.35 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 14,183 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the transaction, the insider now directly owns 40,405 shares in the company, valued at $2,644,507.25. This trade represents a 25.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

William Jacob Savage also recently made the following trade(s):

• On Friday, November 15th, William Jacob Savage sold 9,158 shares of Disc Medicine stock. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12.

Disc Medicine Trading Down 2.9 %

NASDAQ IRON traded down $1.85 on Tuesday, reaching $62.65. The stock had a trading volume of 349,706 shares, compared to its average volume of 354,334. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The business has a 50 day moving average price of $52.78 and a 200 day moving average price of $46.56. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.74 and a beta of 0.60.

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

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently bought and sold shares of IRON. Atlas Venture Life Science Advisors LLC increased its stake in shares of Disc Medicine by 9.7% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares during the period. Wellington Management Group LLP grew its holdings in 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 buying an additional 83,731 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position 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 during the period. Deerfield Management Company L.P. Series C increased its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after buying an additional 357,730 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $58,788,000 after buying an additional 353,382 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IRON has been the topic of a number of recent research reports. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $66.00 to $110.00 in a report on Monday, November 4th. HC Wainwright boosted their price objective on Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Jefferies Financial Group started coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Scotiabank lifted their price objective on shares of 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.80.

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.