Disc Medicine, Inc. (NASDAQ:IRON) Receives Average Recommendation of "Buy" from Brokerages

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) has been given a consensus rating of "Buy" by the eleven ratings firms that are currently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $93.80.

A number of analysts recently weighed in on the company. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating for the company. Stifel Nicolaus raised their price objective on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Cantor Fitzgerald upped their target price on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Morgan Stanley reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research report on Friday, March 7th. Finally, Scotiabank boosted their price target on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON traded up $1.17 during midday trading on Monday, hitting $42.17. 347,423 shares of the stock were exchanged, compared to its average volume of 347,597. The business's 50-day moving average price is $49.50 and its 200 day moving average price is $55.19. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -10.60 and a beta of 0.77. Disc Medicine has a 12 month low of $25.64 and a 12 month high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts' consensus estimates of ($1.06) by $0.08. As a group, sell-side analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insiders Place Their Bets

In other news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the completion of the sale, the chief operating officer now owns 40,555 shares in the company, valued at $2,213,491.90. The trade was a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at approximately $779,503.90. This represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,690 shares of company stock worth $19,648,094. 4.24% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Disc Medicine by 77.4% during the first quarter. SG Americas Securities LLC now owns 14,329 shares of the company's stock valued at $711,000 after buying an additional 6,253 shares during the last quarter. Rhumbline Advisers increased its holdings in Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock worth $1,596,000 after purchasing an additional 3,108 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Disc Medicine by 5,092.5% in the first quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock worth $616,000 after purchasing an additional 12,171 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $40,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Disc Medicine by 399.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company's stock valued at $5,903,000 after purchasing an additional 74,454 shares in the last quarter. Institutional investors own 83.70% of the company's stock.

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.