Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 395 Shares of Stock

Key Points

• Kevin Bitterman, Director of Disc Medicine, sold 395 shares of the company on August 5th, resulting in a total transaction value of $24,075.25, and now owns approximately 625,082 shares.
• The company has reported a loss of ($1.58) earnings per share for the latest quarter, missing analyst estimates by ($0.41).
• Analysts have a consensus rating of "Buy" for Disc Medicine, with an average price target of $95.73, indicating positive growth expectations.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 395 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $60.95, for a total value of $24,075.25. Following the transaction, the director directly owned 625,082 shares in the company, valued at approximately $38,098,747.90. The trade was a 0.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, July 30th, Kevin Bitterman sold 8,492 shares of Disc Medicine stock. The stock was sold at an average price of $61.04, for a total value of $518,351.68.
• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The stock was sold at an average price of $61.17, for a total value of $797,228.61.
• On Wednesday, July 23rd, Kevin Bitterman sold 29,837 shares of Disc Medicine stock. The stock was sold at an average price of $60.97, for a total value of $1,819,161.89.
• On Friday, July 18th, Kevin Bitterman sold 664 shares of Disc Medicine stock. The stock was sold at an average price of $61.13, for a total value of $40,590.32.

Disc Medicine Price Performance

Shares of IRON stock traded down $1.93 during midday trading on Thursday, reaching $57.07. 346,530 shares of the company traded hands, compared to its average volume of 406,521. The firm's 50 day simple moving average is $54.58 and its two-hundred day simple moving average is $51.47. Disc Medicine, Inc. has a 1-year low of $30.82 and a 1-year high of $68.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 37.65 and a quick ratio of 37.65. The firm has a market cap of $1.98 billion, a PE ratio of -14.56 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.41). On average, equities research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock worth $71,000 after purchasing an additional 181 shares in the last quarter. Amalgamated Bank increased its stake in shares of Disc Medicine by 38.6% during the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after purchasing an additional 219 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after purchasing an additional 503 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Disc Medicine by 12.5% during the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after purchasing an additional 590 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IRON shares. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. BMO Capital Markets raised 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. Truist Financial began coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Finally, Morgan Stanley began coverage on shares of Disc Medicine in a research report on Thursday, July 3rd. They set an "overweight" rating and a $85.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Disc Medicine currently has an average rating of "Buy" and a consensus target price of $95.73.

Disc Medicine Company Profile

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.

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