Disc Medicine (NASDAQ:IRON) Shares Down 3% – Time to Sell?

Disc Medicine, Inc. (NASDAQ:IRON) fell 3% during mid-day trading on Friday . The stock traded as low as $51.20 and last traded at $50.82. 173,913 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 360,581 shares. The stock had previously closed at $52.41.

Analyst Upgrades and Downgrades

A number of analysts have commented on IRON shares. Stifel Nicolaus lifted their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Scotiabank upped their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen began coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $89.10.

Disc Medicine Price Performance

The stock’s fifty day moving average is $56.62 and its 200-day moving average is $55.94. The stock has a market capitalization of $1.76 billion, a PE ratio of -12.82 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, Director Mona Ashiya sold 202,146 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the completion of the sale, the director now owns 208,742 shares of the company’s stock, valued at $11,332,603.18. The trade was a 49.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Yen-Wen Yu sold 1,610 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $87,873.80. Following the completion of the transaction, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. This represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,408 shares of company stock valued at $20,027,286. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Disc Medicine in the 4th quarter valued at $40,000. Tower Research Capital LLC TRC lifted its holdings 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 purchasing an additional 266 shares in the last quarter. Quest Partners LLC acquired a new stake in Disc Medicine during the 3rd quarter worth $131,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Disc Medicine during the third quarter worth $146,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.