Disc Medicine (NASDAQ:IRON) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Disc Medicine to “sell” from “hold,” while the broader analyst consensus remains “Moderate Buy,” with 10 Buy, one Hold, and one Sell rating and a $106.50 consensus price target.
• Disc Medicine shares opened at $80.03, compared with a 52-week range of $40.00 to $99.50. The company reported a quarterly loss of $1.54 per share, beating the consensus estimate of a $1.71 loss.
• Insiders sold 153,612 shares worth about $11.4 million over the past three months, including sales by the CEO and COO; institutional investors own 83.70% of the stock.

Disc Medicine (NASDAQ:IRON - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other analysts also recently issued reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a research report on Friday, July 17th. Morgan Stanley reissued an "overweight" rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. HC Wainwright boosted their target price on Disc Medicine from $118.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Wedbush restated an "outperform" rating and issued a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Disc Medicine presently has an average rating of "Moderate Buy" and a consensus price target of $106.50.

Disc Medicine Price Performance

Shares of IRON opened at $80.03 on Friday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -12.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. Disc Medicine has a one year low of $40.00 and a one year high of $99.50. The stock's fifty day moving average is $76.98 and its 200-day moving average is $70.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17. Equities analysts anticipate that Disc Medicine will post -6.61 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In related news, CEO John D. Quisel sold 33,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.15, for a total value of $2,611,950.00. Following the sale, the chief executive officer directly owned 226,064 shares in the company, valued at $17,892,965.60. The trade was a 12.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Yen-Wen Yu sold 8,796 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total transaction of $731,123.52. Following the sale, the chief operating officer directly owned 54,324 shares of the company's stock, valued at approximately $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 153,612 shares of company stock valued at $11,431,811. 3.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in shares of Disc Medicine by 2.2% during the 4th quarter. Arizona State Retirement System now owns 6,798 shares of the company's stock valued at $540,000 after acquiring an additional 144 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company's stock worth $533,000 after purchasing an additional 215 shares during the period. AlphaCentric Advisors LLC raised its position in shares of Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company's stock worth $254,000 after purchasing an additional 216 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Disc Medicine by 3.3% during the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company's stock valued at $740,000 after purchasing an additional 296 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Disc Medicine during the second quarter valued at $25,000. Institutional investors own 83.70% of the company's stock.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source