Kevin Bitterman Sells 129 Shares of Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Director Kevin Bitterman sold 129 Disc Medicine shares at an average price of $79.95, generating $10,313.55. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 14,012 shares.
• Bitterman also recently sold 54,367 additional shares for approximately $4.36 million across transactions on September 2 and 3.
• Disc Medicine shares traded near $79.37, while analysts maintained a generally positive outlook: 10 analysts rated the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $107.70.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 129 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55. Following the sale, the director owned 14,012 shares in the company, valued at approximately $1,120,259.40. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.

Disc Medicine Stock Performance

Shares of NASDAQ IRON traded down $0.68 during mid-day trading on Thursday, hitting $79.37. The company had a trading volume of 501,017 shares, compared to its average volume of 568,092. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The firm's 50 day simple moving average is $77.49 and its two-hundred day simple moving average is $70.15. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -12.06 and a beta of 0.98.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping the consensus estimate 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 Trading of Disc Medicine

A number of institutional investors have recently made changes to their positions in the stock. NEXTBio Capital Management LP acquired a new position in shares of Disc Medicine during the fourth quarter valued at approximately $3,397,000. DNB Asset Management AS lifted its position in Disc Medicine by 1,425.8% in the fourth quarter. DNB Asset Management AS now owns 84,255 shares of the company's stock worth $6,691,000 after purchasing an additional 78,733 shares during the period. Eagle Health Investments LP bought a new position in Disc Medicine during the 4th quarter valued at $2,152,000. Vanguard Group Inc. boosted its stake in Disc Medicine by 22.1% during the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company's stock valued at $140,371,000 after purchasing an additional 319,621 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in shares of Disc Medicine during the 2nd quarter valued at $180,502,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IRON has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a report on Friday, July 17th. Wedbush raised their target price on Disc Medicine from $88.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Disc Medicine in a research note on Tuesday. HC Wainwright boosted their price target on Disc Medicine from $118.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $90.00 price target on shares of Disc Medicine in a research note on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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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