Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman Sells 29,837 Shares

Key Points

• Disc Medicine, Inc. director Kevin Bitterman sold a total of 42,534 shares recently, reducing his holdings by 4.41% to 647,002 shares valued at approximately $39.4 million.
• The company's stock is currently priced at $60.61, with an average target price from analysts ranging from $85.00 to $118.00, indicating strong market interest.
• Disc Medicine reported a loss of $1.02 per share in its recent quarterly earnings, missing the consensus estimate by $0.03, while also facing predicted earnings of -$4.07 per share for the current fiscal year.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 29,837 shares of Disc Medicine stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.97, for a total transaction of $1,819,161.89. Following the completion of the sale, the director owned 647,002 shares of the company's stock, valued at approximately $39,447,711.94. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The shares were sold at an average price of $61.17, for a total transaction of $797,228.61.
• On Friday, July 18th, Kevin Bitterman sold 664 shares of Disc Medicine stock. The shares were sold at an average price of $61.13, for a total transaction of $40,590.32.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded up $0.32 during trading on Tuesday, hitting $59.80. 196,552 shares of the company were exchanged, compared to its average volume of 336,032. The business's 50 day moving average is $53.08 and its 200-day moving average is $51.40. The company has a market capitalization of $2.07 billion, a P/E ratio of -15.26 and a beta of 0.76. The company has a quick ratio of 37.65, a current ratio of 37.65 and a debt-to-equity ratio of 0.04. Disc Medicine, Inc. has a 1-year low of $30.82 and a 1-year high of $68.73.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.03). Equities analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Institutional Trading of Disc Medicine

Institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its stake in shares of Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after purchasing an additional 503 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Disc Medicine in the fourth quarter worth $40,000. Amalgamated Bank grew its stake in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after purchasing an additional 219 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Disc Medicine by 13,428.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after purchasing an additional 940 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IRON. Raymond James Financial began coverage on shares of Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price objective for the company. Wedbush restated an "outperform" rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, July 21st. HC Wainwright restated a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Truist Financial began coverage on shares of Disc Medicine in a research report on Monday, July 21st. They set a "buy" rating and a $86.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $95.73.

About Disc Medicine

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.