Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $416,550.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total transaction of $416,550.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at $779,503.90. This represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rahul Khara also recently made the following trade(s):

• On Thursday, January 2nd, Rahul Khara sold 7,500 shares of Disc Medicine stock. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00.

Disc Medicine Stock Down 1.2 %

Shares of NASDAQ IRON traded down $0.67 during mid-day trading on Tuesday, hitting $54.32. 225,512 shares of the company were exchanged, compared to its average volume of 461,864. The stock has a 50 day simple moving average of $61.83 and a 200-day simple moving average of $54.23. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -13.65 and a beta of 0.74.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. Analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Disc Medicine by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after buying an additional 771 shares in the last quarter. SG Americas Securities LLC grew its holdings in 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 acquiring an additional 793 shares during the period. Finally, Rhumbline Advisers raised its position in Disc Medicine by 5.7% in the fourth quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock worth $1,841,000 after acquiring an additional 1,553 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

IRON has been the topic of several research analyst reports. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $88.90.

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.