Disc Medicine (NASDAQ:IRON) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Disc Medicine (NASDAQ:IRON - Get Free Report) in a research note issued on Thursday, Marketbeat reports. The firm set an "overweight" rating and a $85.00 price target on the stock. Morgan Stanley's price target points to a potential upside of 55.27% from the stock's previous close.

IRON has been the subject of a number of other research reports. Wedbush reiterated an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research note on Monday, June 16th. Raymond James Financial started coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target on the stock. BMO Capital Markets upped their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Thursday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine currently has a consensus rating of "Buy" and an average price target of $96.70.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded up $1.58 during trading hours on Thursday, reaching $54.75. The stock had a trading volume of 218,300 shares, compared to its average volume of 339,300. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -13.97 and a beta of 0.76. Disc Medicine has a twelve month low of $30.82 and a twelve month high of $68.73. The business's fifty day moving average is $49.16 and its two-hundred day moving average is $52.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.03). As a group, research analysts expect that Disc Medicine will post -4.07 EPS for the current year.

Insiders Place Their Bets

In other news, insider William Jacob Savage sold 2,996 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the transaction, the insider directly owned 56,725 shares in the company, valued at $2,836,250. The trade was a 5.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jean M. Franchi sold 2,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $52.26, for a total value of $104,520.00. Following the completion of the sale, the chief financial officer owned 67,530 shares in the company, valued at $3,529,117.80. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,773 shares of company stock valued at $693,794. Corporate insiders own 4.24% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank lifted its position in Disc Medicine by 38.6% during 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 last quarter. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares during the period. Teacher Retirement System of Texas lifted its holdings in Disc Medicine by 8.9% during the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company's stock worth $308,000 after purchasing an additional 396 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Disc Medicine by 798.4% in the 4th 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. Finally, Arizona State Retirement System increased its position in Disc Medicine by 12.5% during the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after buying an additional 590 shares during the period. Institutional investors and hedge funds 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.