Disc Medicine (NASDAQ:IRON) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Disc Medicine (NASDAQ:IRON - Free Report) in a research note released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $86.00 target price on the stock.

IRON has been the topic of several other research reports. HC Wainwright reiterated a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. BMO Capital Markets increased 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 initiated coverage on Disc Medicine in a report on Thursday, July 3rd. They issued an "overweight" rating and a $85.00 target price on the stock. 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 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a report on Monday, June 16th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $95.73.

Disc Medicine Stock Down 0.3%

NASDAQ IRON traded down $0.16 on Monday, hitting $60.78. 210,619 shares of the company were exchanged, compared to its average volume of 410,666. The company has a market cap of $2.10 billion, a PE ratio of -15.51 and a beta of 0.76. Disc Medicine has a 12 month low of $30.82 and a 12 month high of $68.73. The stock has a fifty day moving average of $52.17 and a 200-day moving average of $51.51. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.03). As a group, analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling

In other Disc Medicine news, Director Kevin Bitterman sold 664 shares of Disc Medicine stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.13, for a total transaction of $40,590.32. Following the transaction, the director owned 676,839 shares of the company's stock, valued at $41,375,168.07. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Jacob Savage sold 6,677 shares of Disc Medicine stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $50.04, for a total transaction of $334,117.08. Following the transaction, the insider directly owned 59,721 shares in the company, valued at approximately $2,988,438.84. This represents a 10.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,468 shares of company stock valued at $3,181,165 in the last 90 days. Insiders own 4.24% of the company's stock.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock worth $71,000 after purchasing an additional 181 shares during the period. Amalgamated Bank raised its position in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after acquiring an additional 219 shares during the period. Tower Research Capital LLC TRC raised its position in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after acquiring an additional 266 shares during the period. Teacher Retirement System of Texas raised its position in Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after acquiring an additional 396 shares during the period. Finally, Sterling Capital Management LLC raised its position in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after acquiring an additional 503 shares during the period. 83.70% of the stock is currently 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.