Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $49.77 and last traded at $49.42, with a volume of 437945 shares. The stock had previously closed at $47.15.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on IRON shares. Morgan Stanley reiterated an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Stifel Nicolaus boosted their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, January 24th. HC Wainwright reiterated a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank boosted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Finally, TD Cowen started coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a "buy" rating for the company. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine currently has an average rating of "Buy" and an average price target of $93.80.
View Our Latest Analysis on IRON
Disc Medicine Price Performance
The company's 50-day moving average price is $47.84 and its two-hundred day moving average price is $55.12. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -11.26 and a beta of 0.77.
Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. On average, equities research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.
Insider Transactions at Disc Medicine
In other news, COO Jonathan Yen-Wen Yu sold 1,610 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $87,873.80. Following the completion of the sale, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. This trade represents a 3.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Pamela Stephenson sold 3,137 shares of the company'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 value of $171,217.46. Following the transaction, the insider now directly owns 69,529 shares in the company, valued at approximately $3,794,892.82. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,190 shares of company stock valued at $19,231,544 in the last quarter. 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. Sterling Capital Management LLC grew its holdings in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after buying an additional 503 shares during the last quarter. Amalgamated Bank boosted its stake in Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after purchasing an additional 219 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Disc Medicine during the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC increased its holdings in Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $235,000. Institutional investors own 83.70% of the company's stock.
About Disc Medicine
(
Get Free Report)
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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