Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $1,251,434.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 19,820 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,550,184.10. This represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Disc Medicine Trading Up 0.8 %

Disc Medicine stock traded up $0.53 during mid-day trading on Thursday, hitting $65.54. The company’s stock had a trading volume of 143,756 shares, compared to its average volume of 344,588. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a market capitalization of $1.95 billion, a PE ratio of -16.47 and a beta of 0.76. The stock’s fifty day moving average is $59.84 and its two-hundred day moving average is $51.18.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IRON shares. Wedbush reissued an “outperform” rating and set a $83.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a report on Tuesday, November 5th. Stifel Nicolaus raised their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $87.50.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Amalgamated Bank lifted its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Disc Medicine by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after purchasing an additional 771 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after purchasing an additional 793 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after purchasing an additional 1,468 shares during the period. 83.70% of the stock is 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.