Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 71,961 Shares

Key Points

• Kevin Bitterman, a director at Disc Medicine, sold a total of 71,961 shares on October 8th for approximately $5.08 million, decreasing his holdings by 12.57%.
• Following the recent transactions, Disc Medicine's stock experienced a slight increase of 0.7%, reaching $70.75 during mid-day trading on Thursday.
• Despite the sales, analysts remain optimistic, with a consensus price target of $98.30 and ratings from various firms suggesting it is a buy.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 71,961 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38. Following the sale, the director directly owned 500,621 shares in the company, valued at $35,333,830.18. This represents a 12.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The stock was sold at an average price of $68.38, for a total value of $1,233,506.82.
• On Friday, August 22nd, Kevin Bitterman sold 2,287 shares of Disc Medicine stock. The shares were sold at an average price of $61.03, for a total value of $139,575.61.
• 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 transaction of $439,859.88.
• On Wednesday, August 13th, Kevin Bitterman sold 24,962 shares of Disc Medicine stock. The stock was sold at an average price of $61.15, for a total transaction of $1,526,426.30.
• 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 transaction 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 stock was 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 stock was 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 stock was sold at an average price of $61.13, for a total value of $40,590.32.

Disc Medicine Stock Up 0.7%

Disc Medicine stock traded up $0.47 during mid-day trading on Thursday, hitting $70.75. The company had a trading volume of 509,349 shares, compared to its average volume of 392,803. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -15.83 and a beta of 0.80. 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 1 year low of $30.82 and a 1 year high of $72.68. The business has a fifty day moving average of $61.42 and a 200 day moving average of $53.57.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). On average, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock valued at $264,000 after buying an additional 590 shares in the last quarter. Amalgamated Bank increased its holdings in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after buying an additional 219 shares in the last quarter. Rhumbline Advisers increased its holdings in Disc Medicine by 10.7% in the first quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock valued at $1,596,000 after buying an additional 3,108 shares in the last quarter. Northern Trust Corp increased its stake in shares of Disc Medicine by 11.7% during the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company's stock worth $10,365,000 after purchasing an additional 21,796 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Disc Medicine by 10.9% during the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company's stock worth $668,000 after purchasing an additional 1,322 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on IRON shares. HC Wainwright restated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. Raymond James Financial began coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price on the stock. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 price target for the company. Morgan Stanley lifted their price objective on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Disc Medicine currently has an average rating of "Moderate Buy" and a consensus price target of $98.30.

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.

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