Disc Medicine (NASDAQ:IRON) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Disc Medicine's stock (NASDAQ: IRON) experienced a 34% increase in trading volume with 543,063 shares traded on Tuesday, despite the stock's slight decline to $86.73.
• Analysts have upgraded their price targets for Disc Medicine, with Cantor Fitzgerald raising it to $153 and Morgan Stanley to $90, contributing to a consensus target of $108.73.
• Insider trading activity includes the sale of 70,000 shares by Director Kevin Bitterman for approximately $6.22 million, and insiders have sold a total of 269,803 shares valued at nearly $19.62 million over the last three months.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) shares saw an uptick in trading volume on Tuesday . 543,063 shares changed hands during mid-day trading, an increase of 34% from the previous session's volume of 406,126 shares.The stock last traded at $86.73 and had previously closed at $87.17.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald boosted their price target on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an "overweight" rating in a research note on Friday. Morgan Stanley boosted their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Raymond James Financial boosted their price target on shares of Disc Medicine from $89.00 to $108.00 and gave the stock a "strong-buy" rating in a research note on Friday. Truist Financial assumed coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a "buy" rating and a $86.00 price target for the company. Finally, Wedbush boosted their price target on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.73.

Disc Medicine Trading Down 1.3%

The firm has a market capitalization of $2.99 billion, a PE ratio of -19.26 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 company's 50-day moving average price is $64.26 and its 200-day moving average price is $55.15.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share 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 year.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of Disc Medicine stock in a transaction on Friday, October 17th. The shares were sold at an average price of $88.91, for a total value of $6,223,700.00. Following the transaction, the director directly owned 385,549 shares in the company, valued at approximately $34,279,161.59. The trade was a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 269,803 shares of company stock valued at $19,622,192 over the last three months. 3.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank increased its stake 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 purchasing an additional 219 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Disc Medicine by 13,428.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after acquiring an additional 940 shares during the period. CWM LLC increased its stake in shares of Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company's stock worth $55,000 after acquiring an additional 711 shares during the period. Avanza Fonder AB acquired a new position in shares of Disc Medicine during the second quarter worth about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Disc Medicine by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock worth $71,000 after acquiring an additional 181 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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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