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 Disc Medicine stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $60.99, for a total transaction of $439,859.88. Following the sale, the director owned 592,908 shares in the company, valued at approximately $36,161,458.92. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 transaction 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 transaction of $24,075.25.
• On Wednesday, July 30th, Kevin Bitterman sold 8,492 shares of Disc Medicine stock. The shares were 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 shares were sold at an average price of $61.13, for a total value of $40,590.32.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded up $0.54 during midday trading on Wednesday, reaching $58.72. 255,002 shares of the company traded hands, compared to its average volume of 348,875. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $68.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. The stock's 50-day simple moving average is $56.59 and its 200-day simple moving average is $51.61. The firm has a market cap of $2.04 billion, a PE ratio of -13.14 and a beta of 0.77.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IRON shares. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Raymond James Financial initiated coverage on Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, July 21st. Morgan Stanley boosted their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, BMO Capital Markets increased their target price on Disc Medicine from $112.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $96.18.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its position in Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock valued at $36,000 after buying an additional 503 shares during the last quarter. Amalgamated Bank raised its position in shares of Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company's stock worth $39,000 after acquiring an additional 219 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Disc Medicine during the fourth quarter valued at $40,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 valued at $47,000 after acquiring an additional 940 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after acquiring an additional 266 shares during the last quarter. Institutional investors own 83.70% of the company's stock.

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.