Disc Medicine (NASDAQ:IRON) Director Sells $424,694.40 in Stock

Key Points

• Director Kevin Bitterman sold 5,312 Disc Medicine shares for approximately $424,694 at an average price of $79.95, reducing his direct holdings by 28.61%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Disc Medicine shares fell to $76.00, while the company reported quarterly EPS of -$1.54, beating the consensus estimate of -$1.71. Institutional investors own approximately 83.7% of the stock.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $122.70; several firms recently raised their targets to between $92 and $124.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 5,312 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $79.95, for a total transaction of $424,694.40. Following the transaction, the director directly owned 13,257 shares of the company's stock, valued at approximately $1,059,897.15. This trade represents a 28.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Wednesday, October 21st, Kevin Bitterman sold 25,519 shares of Disc Medicine stock. The stock was sold at an average price of $80.23, for a total transaction of $2,047,389.37.
• On Monday, October 19th, Kevin Bitterman sold 10,994 shares of Disc Medicine stock. The stock was sold at an average price of $79.97, for a total transaction of $879,190.18.
• On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The stock was sold at an average price of $70.11, for a total transaction of $1,902,504.96.
• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The shares were sold at an average price of $79.96, for a total transaction of $135,052.44.
• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The shares were sold at an average price of $79.98, for a total transaction of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The shares were sold at an average price of $80.17, for a total transaction of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Performance

NASDAQ IRON traded down $3.48 on Wednesday, hitting $76.00. The stock had a trading volume of 4,638,911 shares, compared to its average volume of 643,026. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -11.55 and a beta of 0.93. The company's 50-day moving average is $71.53 and its two-hundred day moving average is $71.39.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. On average, analysts expect that Disc Medicine, Inc. will post -6.61 earnings per share for the current year.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of IRON. State of Wyoming bought a new stake in shares of Disc Medicine during the 2nd quarter worth about $25,000. Allworth Financial LP acquired a new stake in shares of Disc Medicine in the 2nd quarter worth approximately $46,000. Nykredit A S bought a new position in shares of Disc Medicine in the second quarter valued at approximately $103,000. Quantbot Technologies LP bought a new position in shares of Disc Medicine in the second quarter valued at approximately $153,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Disc Medicine during the first quarter valued at approximately $207,000. Institutional investors and hedge funds own 83.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on IRON. Morgan Stanley raised their target price on Disc Medicine from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Tuesday. BMO Capital Markets lifted their target price on Disc Medicine from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday. Wells Fargo & Company boosted their price target on Disc Medicine from $86.00 to $124.00 and gave the stock an "overweight" rating in a research report on Tuesday. Truist Financial increased their price target on Disc Medicine from $83.00 to $115.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Wall Street Zen cut Disc Medicine from a "hold" rating to a "sell" rating in a research note on Saturday. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Disc Medicine has a consensus rating of "Moderate Buy" and an average price target of $122.70.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company's pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

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