Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $135,052.44 in Stock

Key Points

• Disc Medicine director Kevin Bitterman sold 1,689 shares at an average price of $79.96, generating $135,052.44. The Rule 10b5-1 transaction reduced his ownership by 11.17%, leaving him with 13,427 shares.
• The sale followed additional disposals totaling more than $4.36 million from September 1–3, including the sale of 49,164 shares on September 2.
• IRON recently traded at $76.51, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $107.70; institutional investors own 83.70% of the company.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 1,689 shares of Disc Medicine stock in a transaction on Friday, September 4th. The shares were sold at an average price of $79.96, for a total value of $135,052.44. Following the completion of the transaction, the director owned 13,427 shares of the company's stock, valued at approximately $1,073,622.92. This trade represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was 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 value of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $10,313.55.

Disc Medicine Stock Performance

NASDAQ IRON traded down $0.33 during trading hours on Wednesday, hitting $76.51. 716,828 shares of the stock were exchanged, compared to its average volume of 566,252. The stock has a 50-day moving average of $77.93 and a 200 day moving average of $70.67. Disc Medicine, Inc. has a 12-month low of $40.00 and a 12-month 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 company has a market cap of $293.42 million, a price-to-earnings ratio of -11.63 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts' consensus estimates of ($1.71) by $0.17. As a group, equities research analysts forecast that Disc Medicine, Inc. will post -6.61 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of IRON. State of Wyoming acquired a new stake in shares of Disc Medicine in the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Disc Medicine in the 4th quarter valued at $33,000. Allworth Financial LP acquired a new stake in shares of Disc Medicine during the 2nd quarter valued at about $46,000. Nykredit A S acquired a new position in shares of Disc Medicine in the 2nd quarter worth approximately $103,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Disc Medicine during the 4th quarter worth approximately $141,000. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRON has been the topic of several research reports. HC Wainwright raised their price objective on Disc Medicine from $118.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Wedbush lifted their target price on Disc Medicine from $88.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Wall Street Zen lowered shares of Disc Medicine from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Disc Medicine in a research note on Friday, July 17th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Disc Medicine in a report on Tuesday, September 1st. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.70.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

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