William Richard White Sells 7,136 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director William Richard White sold 7,136 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

William Richard White also recently made the following trade(s):

• On Friday, November 1st, William Richard White sold 201 shares of Disc Medicine stock. The stock was sold at an average price of $46.37, for a total value of $9,320.37.
• On Tuesday, October 1st, William Richard White sold 201 shares of Disc Medicine stock. The stock was sold at an average price of $51.31, for a total value of $10,313.31.

Disc Medicine Stock Performance

Disc Medicine stock traded up $6.53 during mid-day trading on Tuesday, reaching $64.78. The company’s stock had a trading volume of 894,960 shares, compared to its average volume of 355,030. The business’s 50 day simple moving average is $48.75 and its 200 day simple moving average is $42.93. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -17.65 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.09 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new stake in shares of Disc Medicine during the first quarter worth approximately $7,429,000. Jennison Associates LLC increased its stake in Disc Medicine by 349.1% during the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock worth $12,031,000 after acquiring an additional 150,209 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Disc Medicine by 59.8% in 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 acquiring an additional 353,382 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine during the 2nd quarter worth $34,318,000. Finally, Frazier Life Sciences Management L.P. boosted its stake in Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target (up from $60.00) on shares of Disc Medicine in a report on Monday. Jefferies Financial Group initiated coverage on Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 target price for the company. Nine 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 company has an average rating of “Buy” and an average price target of $80.20.

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.