Disc Medicine (NASDAQ:IRON) Trading Down 3% - Here's What Happened

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report)'s share price fell 3% during mid-day trading on Monday . The company traded as low as $51.86 and last traded at $52.09. 20,173 shares were traded during trading, a decline of 94% from the average session volume of 347,387 shares. The stock had previously closed at $53.71.

Wall Street Analyst Weigh In

Several research firms have weighed in on IRON. Morgan Stanley restated an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. HC Wainwright restated a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a report on Tuesday. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a report on Monday. TD Cowen began coverage on shares of Disc Medicine in a report on Thursday, February 27th. They set a "buy" rating on the stock. Finally, Raymond James Financial began coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $96.70.

Disc Medicine Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 37.65 and a current ratio of 37.65. The stock has a market cap of $1.73 billion, a P/E ratio of -12.78 and a beta of 0.73. The company's 50 day moving average price is $46.96 and its 200-day moving average price is $52.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, Director Mona Ashiya sold 5,738 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $54.11, for a total value of $310,483.18. Following the completion of the transaction, the director now directly owns 186,541 shares in the company, valued at approximately $10,093,733.51. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jean M. Franchi sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $52.26, for a total transaction of $104,520.00. Following the completion of the transaction, the chief financial officer now owns 67,530 shares of the company's stock, valued at $3,529,117.80. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,522 shares of company stock worth $1,544,871 in the last quarter. 4.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after acquiring an additional 503 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Disc Medicine in the fourth quarter valued at approximately $40,000. Amalgamated Bank boosted its position in shares of 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 acquiring an additional 219 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after acquiring an additional 266 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of 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 valued at $47,000 after acquiring an additional 940 shares during the period. 83.70% of the stock is currently owned by institutional investors.

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.