Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 8,492 Shares of Stock

Key Points

• Disc Medicine, Inc. Director Kevin Bitterman sold 8,492 shares on July 30 at an average price of $61.04, decreasing his ownership by 1.34%.
• The company's shares traded down to $58.97, with a 12-month low of $30.82 and a high of $68.73, indicating volatility in the stock price.
• Wall Street analysts have a consensus rating of "Buy" for Disc Medicine, with a target price averaging $95.73, suggesting optimism for future growth.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 8,492 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $61.04, for a total value of $518,351.68. Following the completion of the transaction, the director owned 625,477 shares of the company's stock, valued at $38,179,116.08. This trade represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $797,228.61.
• On Wednesday, July 23rd, Kevin Bitterman sold 29,837 shares of Disc Medicine stock. The shares were 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 Stock Performance

Disc Medicine stock traded up $1.04 during midday trading on Tuesday, reaching $60.83. 73,857 shares of the stock traded hands, compared to its average volume of 404,783. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -15.52 and a beta of 0.77. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $68.73. The firm has a fifty day moving average price of $54.00 and a two-hundred day moving average price of $51.35. The company has a current ratio of 37.65, a quick ratio of 37.65 and a debt-to-equity ratio of 0.04.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Disc Medicine by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock valued at $71,000 after buying an additional 181 shares during the period. Amalgamated Bank increased 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 valued at $39,000 after buying an additional 219 shares during the period. Tower Research Capital LLC TRC increased 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 valued at $52,000 after buying an additional 266 shares during the period. Sterling Capital Management LLC increased 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 valued at $36,000 after buying an additional 503 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock valued at $264,000 after buying an additional 590 shares during the period. Institutional investors own 83.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IRON. Morgan Stanley began coverage on Disc Medicine in a report on Thursday, July 3rd. They issued an "overweight" rating and a $85.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Truist Financial began coverage on Disc Medicine in a report on Monday, July 21st. They issued a "buy" rating and a $86.00 price objective on the stock. Raymond James Financial started coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a "strong-buy" rating and a $89.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target 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.