Disc Medicine, Inc. (NASDAQ:IRON) CFO Sells $119,829.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $59.00, for a total transaction of $119,829.00. Following the sale, the chief financial officer directly owned 63,499 shares in the company, valued at $3,746,441. The trade was a 3.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Disc Medicine Stock Up 2.3%

IRON traded up $1.36 on Tuesday, reaching $60.74. The stock had a trading volume of 300,271 shares, compared to its average volume of 343,130. The business's 50-day moving average price is $51.32 and its two-hundred day moving average price is $51.41. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $68.73. The company has a quick ratio of 37.65, a current ratio of 37.65 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). Equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on IRON. Morgan Stanley began coverage on shares of Disc Medicine in a report on Thursday, July 3rd. They issued an "overweight" rating and a $85.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday. BMO Capital Markets raised their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Raymond James Financial assumed coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Disc Medicine in a research report on Monday. They set a "buy" rating and a $86.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Disc Medicine presently has an average rating of "Buy" and an average target price of $95.73.

Institutional Trading of Disc Medicine

A number of large investors have recently made changes to their positions in IRON. Sterling Capital Management LLC increased its stake in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after purchasing an additional 503 shares during the period. Amalgamated Bank increased 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 acquiring an additional 219 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Disc Medicine during the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd lifted its position in Disc Medicine by 13,428.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after acquiring an additional 940 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after purchasing an additional 266 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

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.