Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Grows By 6.6%

Disc Medicine, Inc. (NASDAQ:IRON) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,770,000 shares, an increase of 6.6% from the December 31st total of 1,660,000 shares. Based on an average trading volume of 316,200 shares, the short-interest ratio is currently 5.6 days. Approximately 11.3% of the company’s shares are short sold.

Insider Buying and Selling

In related news, insider Rahul Khara sold 7,500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.75, for a total transaction of $470,625.00. Following the sale, the insider now owns 14,035 shares in the company, valued at approximately $880,696.25. This represents a 34.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12. Following the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,421 shares of company stock worth $4,973,428. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Disc Medicine by 45.7% in the third 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 last quarter. Quest Partners LLC purchased a new stake in Disc Medicine during the 3rd quarter worth approximately $131,000. Quantbot Technologies LP acquired a new position in Disc Medicine during the 3rd quarter valued at approximately $146,000. Intech Investment Management LLC acquired a new stake in shares of Disc Medicine during the third quarter worth $228,000. Finally, SG Americas Securities LLC increased its position in shares of Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Stock Down 1.5 %

Shares of NASDAQ:IRON opened at $54.99 on Tuesday. The firm has a 50 day moving average of $61.83 and a 200 day moving average of $54.23. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -13.82 and a beta of 0.74. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly 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. On average, sell-side analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Analyst Ratings Changes

IRON has been the subject of several analyst reports. Jefferies Financial Group began coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. 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. Scotiabank boosted their price objective on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Nine equities research analysts have rated the stock with a buy rating and one has assigned 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.

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.