Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman Sells 664 Shares

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 664 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.13, for a total transaction of $40,590.32. Following the completion of the transaction, the director directly owned 676,839 shares in the company, valued at approximately $41,375,168.07. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Disc Medicine Trading Down 0.6%

Shares of Disc Medicine stock traded down $0.36 during trading on Thursday, reaching $60.58. 418,401 shares of the stock were exchanged, compared to its average volume of 412,375. The company has a quick ratio of 37.65, a current ratio of 37.65 and a debt-to-equity ratio of 0.04. The stock's fifty day moving average is $52.17 and its 200 day moving average is $51.51. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -15.45 and a beta of 0.76. Disc Medicine, Inc. has a 1 year low of $30.82 and a 1 year high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its 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). As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IRON. Truist Financial began coverage on shares of Disc Medicine in a research report on Monday. They issued a "buy" rating and a $86.00 target price for the company. BMO Capital Markets upped their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Wedbush reiterated an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday. Raymond James Financial began coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Disc Medicine in a research report on Thursday, July 3rd. They issued an "overweight" rating and a $85.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $95.73.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors have recently bought and sold shares of IRON. Raymond James Financial Inc. bought a new position in Disc Medicine in the fourth quarter worth about $5,579,000. Intech Investment Management LLC increased its stake in shares of Disc Medicine by 69.8% during the fourth quarter. Intech Investment Management LLC now owns 7,890 shares of the company's stock valued at $500,000 after purchasing an additional 3,243 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Disc Medicine by 8.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock valued at $308,000 after purchasing an additional 396 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Disc Medicine in the 4th quarter worth approximately $309,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Disc Medicine in the 4th quarter worth approximately $235,000. 83.70% of the stock is owned by 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.