Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) CFO Jean M. Franchi sold 2,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $57.50, for a total value of $115,000.00. Following the completion of the transaction, the chief financial officer owned 65,530 shares in the company, valued at approximately $3,767,975. This represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Disc Medicine Stock Up 0.8%
Shares of NASDAQ IRON traded up $0.45 during mid-day trading on Thursday, reaching $57.79. 613,860 shares of the company's stock were exchanged, compared to its average volume of 339,774. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -14.74 and a beta of 0.76. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $50.78 and a 200 day simple moving average of $51.63. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $68.73.
Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). As a group, equities analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. BMO Capital Markets raised their target price on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Morgan Stanley assumed coverage on Disc Medicine in a report on Thursday, July 3rd. They set an "overweight" rating and a $85.00 target price on the stock. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, June 16th. Raymond James Financial assumed coverage on Disc Medicine in a report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a report on Thursday, July 3rd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $96.70.
View Our Latest Stock Analysis on IRON
Institutional Investors Weigh In On Disc Medicine
Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank raised its position in Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after buying an additional 219 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Disc Medicine during the 4th quarter worth approximately $5,479,000. Rhumbline Advisers boosted its stake in Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock valued at $1,596,000 after purchasing an additional 3,108 shares during the period. GAMMA Investing LLC boosted its stake in Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock valued at $616,000 after purchasing an additional 12,171 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in Disc Medicine in the 4th quarter valued at $335,000. Institutional investors and hedge funds own 83.70% of the company's stock.
Disc Medicine Company Profile
(
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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.
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