Disc Medicine (NASDAQ:IRON) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Disc Medicine from “Sell” to “Hold,” while broader analyst sentiment remains positive with a “Moderate Buy” consensus and an average price target of $109.55.
• Disc Medicine shares opened at $70.06, well below the consensus target and their 52-week high of $99.50. The company reported a quarterly loss of $1.54 per share, beating estimates for a $1.71 loss.
• Company insiders sold $15.9 million worth of stock over the past three months, while institutional investors and hedge funds own 83.7% of the company.

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

A number of other research firms also recently issued reports on IRON. Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Disc Medicine in a report on Thursday. HC Wainwright reaffirmed a "buy" rating and issued a $120.00 target price on shares of Disc Medicine in a research report on Thursday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a research report on Friday, July 17th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Disc Medicine in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $109.55.

Disc Medicine Price Performance

Shares of IRON opened at $70.06 on Friday. The stock has a 50 day simple moving average of $77.80 and a 200 day simple moving average of $70.84. Disc Medicine has a 52-week low of $40.00 and a 52-week high of $99.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The firm has a market capitalization of $2.69 billion, a PE ratio of -10.65 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.17. Sell-side analysts predict that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Rahul Khara sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the completion of the sale, the insider directly owned 52,173 shares of the company's stock, valued at $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jonathan Yu sold 18,612 shares of Disc Medicine stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total value of $1,287,764.28. Following the transaction, the chief operating officer owned 54,324 shares of the company's stock, valued at $3,758,677.56. This represents a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 209,797 shares of company stock worth $15,934,791 in the last three months. 3.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of Disc Medicine in the second quarter valued at $25,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Disc Medicine during the 4th quarter worth about $33,000. Allworth Financial LP acquired a new position in Disc Medicine in the 2nd quarter valued at about $46,000. Nykredit A S acquired a new position in Disc Medicine in the 2nd quarter valued at about $103,000. Finally, Persistent Asset Partners Ltd bought a new position in Disc Medicine in the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 83.70% of the company's stock.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.

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