Disc Medicine (NASDAQ:IRON) Releases Earnings Results, Beats Estimates By $0.17 EPS

Key Points

• Disc Medicine beat quarterly earnings expectations: The company reported a loss of $1.54 per share, $0.17 better than analysts’ consensus estimate of a $1.71 loss.
• Shares rose 7.5% to $79.21 following the results, giving Disc Medicine a market capitalization of approximately $3.02 billion.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus, an average price target of $104.44, and nine Buy ratings versus one Hold and one Sell. However, insiders sold roughly $7.6 million of stock over the past 90 days.

Disc Medicine (NASDAQ:IRON - Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($1.54) earnings per share for the quarter, beating analysts' consensus estimates of ($1.71) by $0.17, FiscalAI reports.

Disc Medicine Trading Up 7.5%

IRON stock traded up $5.54 during trading on Thursday, hitting $79.21. 374,866 shares of the company traded hands, compared to its average volume of 598,085. The firm has a market capitalization of $3.02 billion, a PE ratio of -11.97 and a beta of 0.97. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a 50-day moving average of $72.29 and a 200-day moving average of $69.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00.

Insider Buying and Selling

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the transaction, the insider directly owned 52,173 shares of the company's stock, valued at $3,663,588.06. The trade was a 12.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $69.19, for a total value of $1,287,764.28. Following the completion of the sale, the chief operating officer owned 54,324 shares of the company's stock, valued at $3,758,677.56. The trade was a 25.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,712 shares of company stock worth $7,597,536 in the last ninety days. 3.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. Persistent Asset Partners Ltd bought a new stake in Disc Medicine in the 4th quarter worth $141,000. Russell Investments Group Ltd. boosted its holdings in shares of Disc Medicine by 15,137.5% during the third quarter. Russell Investments Group Ltd. now owns 2,438 shares of the company's stock worth $161,000 after purchasing an additional 2,422 shares during the period. Virtus Investment Advisers LLC boosted its holdings in shares of Disc Medicine by 34.2% during the fourth quarter. Virtus Investment Advisers LLC now owns 2,897 shares of the company's stock worth $230,000 after purchasing an additional 739 shares during the period. AlphaCentric Advisors LLC bought a new stake in shares of Disc Medicine in the fourth quarter worth about $298,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 383.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the company's stock worth $211,000 after purchasing an additional 3,152 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IRON has been the topic of a number of recent research reports. Morgan Stanley increased their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Disc Medicine from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Wedbush reaffirmed an "outperform" rating and set a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $104.44.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.