Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 7,212 Shares

Key Points

• Disc Medicine, Inc. Director Kevin Bitterman sold 7,212 shares at an average price of $60.99, totaling approximately $440,000, which reduced his holdings by 1.20%.
• The stock has seen a 1.4% decline, trading at $59.86, with a current market cap of $2.07 billion and a P/E ratio of -13.39.
• Analysts maintain a consensus rating of "Buy" for Disc Medicine with an average price target of $95.73, reflecting optimism about the company’s potential.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 7,212 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $60.99, for a total value of $439,859.88. Following the completion of the transaction, the director directly owned 592,908 shares in the company, valued at approximately $36,161,458.92. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, August 13th, Kevin Bitterman sold 24,962 shares of Disc Medicine stock. The stock was sold at an average price of $61.15, for a total value of $1,526,426.30.
• On Tuesday, August 5th, Kevin Bitterman sold 395 shares of Disc Medicine stock. The stock was sold at an average price of $60.95, for a total value of $24,075.25.
• 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 transaction 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 transaction 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 transaction of $1,819,161.89.
• 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 IRON stock traded down $0.42 on Wednesday, hitting $57.76. 12,523 shares of the stock traded hands, compared to its average volume of 401,942. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm has a 50 day simple moving average of $56.44 and a two-hundred day simple moving average of $51.56. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -12.94 and a beta of 0.77. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $68.73.

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

Institutional Investors Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position in Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after purchasing an additional 590 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Disc Medicine by 38.6% in the 1st quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after buying an additional 219 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Disc Medicine in the 4th quarter worth about $5,479,000. Rhumbline Advisers increased its holdings in shares of Disc Medicine by 10.7% in the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock worth $1,596,000 after buying an additional 3,108 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Disc Medicine by 5,092.5% in the 1st quarter. GAMMA Investing LLC now owns 12,410 shares of the company's stock worth $616,000 after buying an additional 12,171 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Disc Medicine in a research note on Monday, July 21st. Raymond James Financial started 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 on the stock. Truist Financial initiated 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 on the stock. BMO Capital Markets lifted their price target on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $118.00 price target on shares of Disc Medicine in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $96.18.

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.