Disc Medicine's (IRON) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Disc Medicine's stock is rated as "sell (D-)" by Weiss Ratings, while other analysts have given it ratings ranging from "strong buy" to "overweight."
• The company's latest quarterly earnings report showed a loss of ($1.58) earnings per share, falling short of the expected ($1.17).
• Insider transactions include the sale of shares by the Director and CFO, indicating a slight reduction in their holdings recently.

Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "sell (d-)" rating reiterated by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

IRON has been the topic of a number of other research reports. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, July 21st. Raymond James Financial started coverage on shares of Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price target on the stock. Morgan Stanley increased their price target 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. HC Wainwright reissued a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. Finally, Truist Financial started coverage on shares of Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.30.

Disc Medicine Stock Performance

IRON traded up $2.39 during midday trading on Wednesday, reaching $70.28. The company had a trading volume of 668,395 shares, compared to its average volume of 347,902. 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 stock has a market cap of $2.44 billion, a PE ratio of -15.72 and a beta of 0.80. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $72.68. The business has a 50-day moving average price of $61.42 and a two-hundred day moving average price of $53.57.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, sell-side analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 2,287 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the sale, the director directly owned 590,621 shares in the company, valued at approximately $36,045,599.63. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jean M. Franchi sold 2,031 shares of Disc Medicine stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $59.00, for a total transaction of $119,829.00. Following the completion of the sale, the chief financial officer owned 63,499 shares of the company's stock, valued at $3,746,441. This represents a 3.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,913 shares of company stock valued at $5,540,099. 3.64% of the stock is owned by company insiders.

Institutional Trading of Disc Medicine

A number of large investors have recently made changes to their positions in IRON. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after buying an additional 219 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in 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 valued at $47,000 after purchasing an additional 940 shares in the last quarter. CWM LLC raised its position in shares of Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company's stock valued at $55,000 after buying an additional 711 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Disc Medicine during the second quarter valued at approximately $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 15.6% in the second 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 during the last quarter. 83.70% of the stock is currently owned by institutional investors.

About Disc Medicine

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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