Kevin Bitterman Sells 27,136 Shares of Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Director Kevin Bitterman sold 27,136 Disc Medicine shares at an average price of $70.11, generating approximately $1.90 million and reducing his ownership by 79.18% to 7,136 shares.
• Disc Medicine shares fell $1.62 to $67.30, while the company reported quarterly EPS of -$1.54, beating analysts’ estimate of -$1.71.
• Despite the insider selling, analyst sentiment remains positive: 11 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and a $109.55 price target.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 27,136 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96. Following the sale, the director owned 7,136 shares in the company, valued at approximately $500,304.96. The trade was a 79.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 value 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 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.
• 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 transaction of $10,313.55.

Disc Medicine Price Performance

NASDAQ:IRON traded down $1.62 during mid-day trading on Tuesday, hitting $67.30. 599,527 shares of the company's stock traded hands, compared to its average volume of 567,058. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The firm's 50 day simple moving average is $77.63 and its 200 day simple moving average is $70.91. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a market cap of $258.10 million, a PE ratio of -10.23 and a beta of 0.97.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IRON. BlackRock Inc. acquired a new stake in shares of Disc Medicine during the 2nd quarter worth $180,502,000. Wellington Management Group LLP raised its position in shares of Disc Medicine by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company's stock worth $127,362,000 after buying an additional 5,975 shares during the period. Opaleye Management Inc. boosted its holdings in Disc Medicine by 103.1% in the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company's stock valued at $62,535,000 after acquiring an additional 434,000 shares during the last quarter. BVF Inc. IL acquired a new position in Disc Medicine in the fourth quarter valued at $51,616,000. Finally, Jennison Associates LLC grew its position in Disc Medicine by 14.7% during the first quarter. Jennison Associates LLC now owns 610,382 shares of the company's stock valued at $39,028,000 after acquiring an additional 78,303 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on IRON. BMO Capital Markets reiterated an "outperform" rating on shares of Disc Medicine in a report on Thursday, September 10th. Wedbush reissued an "outperform" rating and issued a $100.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Jefferies Financial Group restated a "buy" rating and issued a $128.00 price objective on shares of Disc Medicine in a research report on Thursday, September 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Finally, Wall Street Zen upgraded Disc Medicine from a "sell" rating to a "hold" rating in a research report on Saturday. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.55.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company's research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine's lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.

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