Disc Medicine (NASDAQ:IRON) Director Sells $1,526,426.30 in Stock

Key Points

• Kevin Bitterman, a director at Disc Medicine, Inc., sold $1.53 million worth of stock on August 13th, which resulted in a 3.99% decrease in his position.
• The company's stock traded down to $59.86 recently, while analysts project a significant improvement in performance with price targets ranging from $86.00 to $120.00.
• Disc Medicine reported a quarterly earnings miss, posting an EPS of ($1.58), falling short of the consensus estimate by $0.41.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 24,962 shares of Disc Medicine stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $61.15, for a total transaction of $1,526,426.30. Following the completion of the transaction, the director directly owned 600,120 shares of the company's stock, valued at $36,697,338. The trade was a 3.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, August 14th, Kevin Bitterman sold 7,212 shares of Disc Medicine stock. The shares were sold at an average price of $60.99, for a total value of $439,859.88.
• On Tuesday, August 5th, Kevin Bitterman sold 395 shares of Disc Medicine stock. The shares were sold at an average price of $60.95, for a total value of $24,075.25.
• On Wednesday, July 30th, Kevin Bitterman sold 8,492 shares of Disc Medicine stock. The shares were sold at an average price of $61.04, for a total value of $518,351.68.
• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The shares were sold at an average price of $61.17, for a total value of $797,228.61.
• On Wednesday, July 23rd, Kevin Bitterman sold 29,837 shares of Disc Medicine stock. The shares were sold at an average price of $60.97, for a total value of $1,819,161.89.
• On Friday, July 18th, Kevin Bitterman sold 664 shares of Disc Medicine stock. The shares were sold at an average price of $61.13, for a total value of $40,590.32.

Disc Medicine Price Performance

Shares of Disc Medicine stock traded down $0.42 on Wednesday, reaching $57.76. The company's stock had a trading volume of 12,523 shares, compared to its average volume of 401,942. The company has a market capitalization of $2.01 billion, a P/E ratio of -12.94 and a beta of 0.77. The stock has a 50-day moving average price of $56.44 and a 200-day moving average price of $51.56. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). Analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IRON. Morgan Stanley boosted their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday. Wedbush reiterated an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. BMO Capital Markets boosted their price target on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. HC Wainwright reiterated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research report on Thursday, July 3rd. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat, Disc Medicine has an average rating of "Buy" and a consensus price target of $96.18.

Institutional Investors Weigh In On Disc Medicine

Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of 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 grew its stake in shares of 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 period. GF Fund Management CO. LTD. purchased a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock valued at $47,000 after buying 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 buying an additional 266 shares during the period. Hedge funds and other institutional investors own 83.70% of the company's stock.

About Disc Medicine

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.