Disc Medicine (NASDAQ:IRON) Reaches New 52-Week High - Should You Buy?

Key Points

• Disc Medicine, Inc. reached a new 52-week high, trading at $73.53, and has a current market cap of $2.51 billion.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and an average price target of $98.30.
• Recent insider transactions saw significant stock sales, with insiders selling a total of 178,913 shares valued at over $11 million in the last three months.

Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $73.53 and last traded at $71.87, with a volume of 18155 shares. The stock had previously closed at $71.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IRON shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Disc Medicine in a report on Wednesday, October 8th. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of Disc Medicine in a research report on Monday, July 21st. Truist Financial initiated coverage on Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 target price for the company. Morgan Stanley boosted their target price on Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $98.30.

Disc Medicine Stock Up 0.2%

The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -16.08 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. The business's 50-day moving average is $62.10 and its 200-day moving average is $53.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, equities analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Transactions at Disc Medicine

In other news, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $59.00, for a total value of $119,829.00. Following the completion of the sale, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. The trade was a 3.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Bitterman sold 71,961 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total transaction of $5,079,007.38. Following the sale, the director directly owned 500,621 shares of the company's stock, valued at approximately $35,333,830.18. This trade represents a 12.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,913 shares of company stock valued at $11,737,613 in the last three months. Insiders own 3.64% of the company's stock.

Institutional Investors Weigh In On Disc Medicine

Several large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Disc Medicine during the third quarter worth $689,000. Tower Research Capital LLC TRC lifted its position in Disc Medicine by 383.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the company's stock valued at $211,000 after acquiring an additional 3,152 shares in the last quarter. Opaleye Management Inc. lifted its position in Disc Medicine by 119.3% in the 2nd quarter. Opaleye Management Inc. now owns 186,418 shares of the company's stock valued at $9,873,000 after acquiring an additional 101,418 shares in the last quarter. Eventide Asset Management LLC lifted its position in Disc Medicine by 69.4% in the 2nd quarter. Eventide Asset Management LLC now owns 308,030 shares of the company's stock valued at $16,313,000 after acquiring an additional 126,212 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Disc Medicine by 213.7% in the 2nd quarter. Bank of America Corp DE now owns 168,822 shares of the company's stock valued at $8,941,000 after buying an additional 115,014 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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