Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a growth of 6.4% from the January 15th total of 2,040,000 shares. Based on an average daily volume of 336,500 shares, the days-to-cover ratio is currently 6.4 days. Approximately 12.1% of the shares of the company are sold short.

Disc Medicine Price Performance

Shares of NASDAQ IRON remained flat at $54.10 during mid-day trading on Monday. The stock had a trading volume of 190,095 shares, compared to its average volume of 480,000. The firm has a market capitalization of $1.61 billion, a P/E ratio of -13.59 and a beta of 0.73. Disc Medicine has a one year low of $25.60 and a one year high of $77.60. The business’s 50-day simple moving average is $59.95 and its 200-day simple moving average is $54.94.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IRON shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Scotiabank increased their price target on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $88.90.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 1,957 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jacob Savage sold 14,183 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at approximately $2,644,507.25. The trade was a 25.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,763 shares of company stock worth $4,843,795 in the last ninety days. 4.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the period. Teacher Retirement System of Texas boosted its stake in Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after buying an additional 396 shares during the period. Sterling Capital Management LLC boosted its stake in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after buying an additional 503 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after purchasing an additional 593 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.