Disc Medicine (NASDAQ:IRON) Insider Sells 16,035 Shares of Stock

Key Points

• Disc Medicine insider William Savage sold 16,035 shares at an average price of $85.09, for about $1.36 million. After the sale, he directly held 63,445 shares, a 20.17% reduction in his ownership.
• The company reported quarterly loss of $1.53 per share, beating analysts’ estimate of a $1.63 loss.
• Analysts’ overall rating is Moderate Buy, with a consensus price target of $124.18; 12 analysts rated the stock Buy, one Hold, and one Sell.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) insider William Savage sold 16,035 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $85.09, for a total value of $1,364,418.15. Following the completion of the sale, the insider directly owned 63,445 shares of the company's stock, valued at $5,398,535.05. This represents a 20.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Disc Medicine Price Performance

Shares of Disc Medicine stock traded down $3.85 during trading on Thursday, reaching $83.23. The company's stock had a trading volume of 761,213 shares, compared to its average volume of 679,006. The company has a quick ratio of 24.14, a current ratio of 20.30 and a debt-to-equity ratio of 0.10. Disc Medicine, Inc. has a 12-month low of $40.00 and a 12-month high of $99.50. The company has a market capitalization of $3.20 billion, a P/E ratio of -13.13 and a beta of 0.96. The business has a 50 day moving average price of $71.52 and a 200-day moving average price of $71.05.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($1.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.63) by $0.10. As a group, sell-side analysts anticipate that Disc Medicine, Inc. will post -6.20 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IRON. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research note on Thursday, October 15th. Guggenheim assumed coverage on shares of Disc Medicine in a report on Monday. They issued a "buy" rating and a $132.00 price target for the company. Morgan Stanley raised their price objective on shares of Disc Medicine from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Tuesday, October 20th. Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Monday, October 19th. Finally, Truist Financial boosted their price objective on shares of Disc Medicine from $83.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, October 19th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $124.18.

Institutional Trading of Disc Medicine

Large investors have recently modified their holdings of the business. State of Wyoming acquired a new position in shares of Disc Medicine during the 2nd quarter worth approximately $25,000. Allworth Financial LP purchased a new stake in Disc Medicine in the 2nd quarter valued at approximately $46,000. Sterling Capital Management LLC lifted its stake in Disc Medicine by 842.4% in the 3rd quarter. Sterling Capital Management LLC now owns 933 shares of the company's stock valued at $61,000 after buying an additional 834 shares in the last quarter. Nykredit A S acquired a new stake in Disc Medicine during the 2nd quarter valued at $103,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Disc Medicine during the 3rd quarter valued at $119,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

About Disc Medicine

Disc Medicine, Inc. is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function. The company's development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.

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