Kevin Bitterman Sells 5,203 Shares of Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Disc Medicine director Kevin Bitterman sold 5,203 shares at an average price of $79.98, generating $416,135.94. The Rule 10b5-1 transaction reduced his holdings by 27.9% to 13,445 shares; he also sold 49,164 shares the previous day.
• Disc Medicine shares closed at $79.37, with a market capitalization of approximately $3.05 billion and a 52-week range of $40.00 to $99.50. The company recently reported a quarterly loss of $1.54 per share, narrower than analysts’ expected loss of $1.71.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $107.70, despite two recent sell ratings. Institutional investors own about 83.7% of the company’s stock.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 5,203 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94. Following the transaction, the director owned 13,445 shares in the company, valued at approximately $1,075,331.10. The trade was a 27.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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, 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 shares were sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded down $0.68 during trading on Thursday, hitting $79.37. 501,017 shares of the stock were exchanged, compared to its average volume of 568,092. The company has a fifty day moving average price of $77.49 and a 200-day moving average price of $70.15. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of -12.06 and a beta of 0.98. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50.

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

Analyst Upgrades and Downgrades

IRON has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research report on Friday, July 17th. Wall Street Zen cut shares of Disc Medicine from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. HC Wainwright lifted their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Wedbush upped their price target on shares of Disc Medicine from $88.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Disc Medicine in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IRON. State of Wyoming acquired a new position in Disc Medicine in the second quarter valued at about $25,000. ANTIPODES PARTNERS Ltd acquired a new stake in Disc Medicine during the fourth quarter worth about $33,000. Allworth Financial LP acquired a new stake in Disc Medicine during the second quarter worth about $46,000. Nykredit A S bought a new position in Disc Medicine in the 2nd quarter valued at about $103,000. Finally, Persistent Asset Partners Ltd bought a new position in Disc Medicine in the 4th quarter valued at about $141,000. Institutional investors own 83.70% of the company's stock.

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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