Disc Medicine (NASDAQ:IRON) Shares Down 9% After Insider Selling

Key Points

• Shares fell about 9% intraday after company insiders sold stock — Director Kevin Bitterman sold large blocks (45,507 on Dec. 12 and 754 on Dec. 17) and William Jacob Savage sold 13,093 shares on Dec. 15, coinciding with a drop in volume.
• Wall Street remains broadly positive with an average rating of "Moderate Buy" and an average price target of $119, as multiple firms raised targets (range cited up to $153) and most analysts rate the stock Buy or Strong Buy.
• Key fundamentals: market cap about $2.88 billion, a negative PE and a recent quarterly EPS miss (reported -$1.77 vs. -$1.48 consensus), while liquidity metrics show a very high current and quick ratio (23.45).

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) was down 9% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $89.05 and last traded at $82.3370. Approximately 216,443 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 426,750 shares. The stock had previously closed at $90.44.

Specifically, Director Kevin Bitterman sold 754 shares of Disc Medicine stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $91.47, for a total transaction of $68,968.38. Following the completion of the sale, the director directly owned 14,013 shares in the company, valued at approximately $1,281,769.11. The trade was a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider William Jacob Savage sold 13,093 shares of Disc Medicine stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $91.22, for a total value of $1,194,343.46. Following the sale, the insider directly owned 75,702 shares of the company's stock, valued at $6,905,536.44. This trade represents a 14.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In related news, Director Kevin Bitterman sold 45,507 shares of the business's stock in a transaction on Friday, December 12th. The shares were sold at an average price of $92.39, for a total transaction of $4,204,391.73. Following the completion of the transaction, the director directly owned 41,519 shares in the company, valued at $3,835,940.41. The trade was a 52.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several research firms recently commented on IRON. Stifel Nicolaus began coverage on Disc Medicine in a report on Monday, November 3rd. They set a "buy" rating and a $125.00 target price on the stock. Raymond James Financial reissued a "strong-buy" rating and issued a $117.00 price target on shares of Disc Medicine in a report on Monday, December 8th. Wells Fargo & Company raised their price target on shares of Disc Medicine from $91.00 to $109.00 and gave the company an "overweight" rating in a research note on Tuesday. Wedbush boosted their price objective on Disc Medicine from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, October 17th. Finally, Cantor Fitzgerald increased their target price on Disc Medicine from $132.00 to $153.00 and gave the company an "overweight" rating in a report on Friday, October 17th. One investment 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $119.00.

Disc Medicine Price Performance

The stock has a market cap of $2.88 billion, a PE ratio of -14.13 and a beta of 0.87. The stock's fifty day moving average is $87.72 and its 200-day moving average is $68.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.29). As a group, equities analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of Disc Medicine by 67.9% in the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after acquiring an additional 948,094 shares during the last quarter. RA Capital Management L.P. purchased a new position in Disc Medicine during the 1st quarter valued at about $78,288,000. Vanguard Group Inc. grew its position in Disc Medicine by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,448,059 shares of the company's stock valued at $95,688,000 after acquiring an additional 51,323 shares in the last quarter. Siren L.L.C. purchased a new stake in Disc Medicine during the first quarter worth about $53,207,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Disc Medicine by 11.1% in the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company's stock valued at $44,678,000 after purchasing an additional 84,278 shares during the period. Institutional investors and hedge funds 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.

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.