Disc Medicine (NASDAQ:IRON) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Disc Medicine from “hold” to “sell,” while analyst consensus remains “Moderate Buy” with an average price target of $105.90. Eleven analysts rate the stock Buy, one Hold, and one Sell.
• Disc Medicine shares opened at $56.84, well below their 50-day and 200-day moving averages near $71. The company reported a quarterly loss of $1.54 per share, but beat estimates by $0.17.
• Insiders sold 131,221 shares worth approximately $10.24 million over the past 90 days, while institutional investors own 83.70% of the stock. BlackRock initiated a stake valued at about $180.5 million during the second quarter.

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

IRON has been the topic of several other reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Disc Medicine from $79.00 to $86.00 and gave the company an "overweight" rating in a research report on Wednesday, September 16th. HC Wainwright reissued a "buy" rating and set a $120.00 price objective on shares of Disc Medicine in a research note on Thursday, September 10th. BMO Capital Markets restated an "outperform" rating on shares of Disc Medicine in a research report on Thursday, September 10th. Finally, Jefferies Financial Group restated a "buy" rating and set a $128.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $105.90.

Disc Medicine Stock Performance

Disc Medicine stock opened at $56.84 on Friday. 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 stock has a fifty day moving average of $71.55 and a two-hundred day moving average of $71.11. The company has a market capitalization of $217.70 million, a price-to-earnings ratio of -8.64 and a beta of 0.93. Disc Medicine has a fifty-two week low of $40.00 and a fifty-two week high of $99.50.

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

Insider Activity at Disc Medicine

In other news, Director Kevin Bitterman sold 49,164 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total transaction of $3,941,477.88. Following the transaction, the director directly owned 13,499 shares in the company, valued at $1,082,214.83. This represents a 78.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Quisel sold 33,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the completion of the sale, the chief executive officer directly owned 226,064 shares in the company, valued at $17,892,965.60. This represents a 12.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 131,221 shares of company stock valued at $10,239,760. Insiders own 3.76% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Disc Medicine during the second quarter valued at about $180,502,000. Wellington Management Group LLP raised its holdings in shares of Disc Medicine by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock worth $127,362,000 after purchasing an additional 5,975 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Disc Medicine by 191.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company's stock worth $73,280,000 after purchasing an additional 735,300 shares during the period. Opaleye Management Inc. raised its holdings in shares of Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock worth $62,535,000 after purchasing an additional 434,000 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Disc Medicine by 14.7% in the 1st quarter. Jennison Associates LLC now owns 610,382 shares of the company's stock valued at $39,028,000 after purchasing an additional 78,303 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.

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