Disc Medicine (NASDAQ:IRON) Sets New 1-Year High - Here's Why

Key Points

• Disc Medicine, Inc. (NASDAQ:IRON) reached a new 52-week high of $68.79, closing at $67.91 with a trading volume of 274,143 shares.
• Analysts have given the company a consensus rating of "Buy" with price targets ranging from $86.00 to $118.00, indicating positive market sentiment.
• Insider trading activity reveals significant selling, with CEO John D. Quisel selling 34,800 shares at an average price of $55.33, decreasing his position by 17.70%.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $68.79 and last traded at $67.91, with a volume of 274143 shares changing hands. The stock had previously closed at $66.08.

Analyst Ratings Changes

IRON has been the subject of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. Wedbush reiterated an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a research note on Monday, July 21st. Truist Financial initiated coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a "buy" rating and a $86.00 target price for the company. Morgan Stanley upped their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Finally, Raymond James Financial initiated coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $98.30.

Disc Medicine Trading Up 1.3%

The company has a market cap of $2.33 billion, a price-to-earnings ratio of -14.98 and a beta of 0.77. 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 price is $60.47 and its 200-day moving average price is $52.94.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results 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, research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Transactions at Disc Medicine

In other news, CEO John D. Quisel sold 34,800 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total value of $1,925,484.00. Following the sale, the chief executive officer owned 161,828 shares of the company's stock, valued at approximately $8,953,943.24. This represents a 17.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jean M. Franchi sold 2,031 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $59.00, for a total transaction of $119,829.00. Following the sale, the chief financial officer directly owned 63,499 shares in the company, valued at approximately $3,746,441. This represents a 3.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,913 shares of company stock valued at $7,752,051. 3.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in IRON. Amalgamated Bank grew its holdings in Disc Medicine by 38.6% during the 1st 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. Caitong International Asset Management Co. Ltd grew its holdings in Disc Medicine by 13,428.6% during the 1st 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 last quarter. CWM LLC grew its holdings in Disc Medicine by 213.5% during the 2nd quarter. CWM LLC now owns 1,044 shares of the company's stock worth $55,000 after acquiring an additional 711 shares during the last quarter. Avanza Fonder AB bought a new position in shares of Disc Medicine in the 2nd quarter valued at about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Disc Medicine by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock valued at $71,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

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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