Shares of Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) gapped up before the market opened on Friday after Cantor Fitzgerald raised their price target on the stock from $132.00 to $153.00. The stock had previously closed at $74.36, but opened at $85.50. Cantor Fitzgerald currently has an overweight rating on the stock. Disc Medicine shares last traded at $91.59, with a volume of 973,197 shares.
Other research analysts have also issued research reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a report on Wednesday, October 8th. HC Wainwright restated a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. Raymond James Financial set a $108.00 price target on Disc Medicine and gave the company a "strong-buy" rating in a research report on Friday. Truist Financial initiated coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 target price for the company. Finally, Morgan Stanley boosted their price objective on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Disc Medicine currently has a consensus rating of "Moderate Buy" and an average price target of $104.30.
View Our Latest Research Report on IRON
Insider Activity
In other Disc Medicine news, Director Kevin Bitterman sold 71,961 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the transaction, the director directly owned 500,621 shares in the company, valued at $35,333,830.18. This represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 176,218 shares of company stock worth $11,577,193. Insiders own 3.64% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its holdings in Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock valued at $39,000 after acquiring an additional 219 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Disc Medicine by 13,428.6% in 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 in the last quarter. CWM LLC increased its position in shares of Disc Medicine by 213.5% in the 2nd quarter. CWM LLC now owns 1,044 shares of the company's stock valued at $55,000 after acquiring an additional 711 shares during the period. Avanza Fonder AB acquired a new stake in Disc Medicine during the 2nd quarter valued at approximately $57,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $71,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 83.70% of the company's stock.
Disc Medicine Price Performance
The firm has a market capitalization of $3.14 billion, a PE ratio of -20.28 and a beta of 0.80. The stock has a 50-day moving average price of $63.05 and a 200 day moving average price of $54.43. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05.
Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). Equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.
Disc Medicine Company Profile
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Get Free Report)
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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