Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $546,183.12 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the completion of the sale, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Disc Medicine Stock Up 3.8 %

Shares of NASDAQ IRON traded up $2.20 during midday trading on Tuesday, hitting $59.55. The stock had a trading volume of 284,893 shares, compared to its average volume of 354,796. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company’s 50-day simple moving average is $51.31 and its 200 day simple moving average is $45.40.

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

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently modified their holdings of the business. 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 acquiring an additional 969,834 shares during the last quarter. Logos Global Management LP bought a new position in shares of Disc Medicine in the 2nd quarter worth $41,690,000. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the second quarter worth $34,318,000. Deerfield Management Company L.P. Series C increased its holdings in 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 valued at $46,119,000 after purchasing an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted 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 buying an additional 353,382 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IRON. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Scotiabank increased their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.