Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 2,100 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) insider William Jacob Savage sold 2,100 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $50.17, for a total value of $105,357.00. Following the transaction, the insider now owns 66,398 shares in the company, valued at approximately $3,331,187.66. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Disc Medicine Stock Performance

Shares of IRON traded down $0.05 during mid-day trading on Friday, reaching $44.24. The company had a trading volume of 345,669 shares, compared to its average volume of 349,063. Disc Medicine, Inc. has a 52 week low of $29.48 and a 52 week high of $68.73. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.12 and a beta of 0.77. The firm has a 50-day moving average price of $46.93 and a 200 day moving average price of $54.86.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted 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). As a group, research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IRON shares. Cantor Fitzgerald boosted their price target on Disc Medicine from $99.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Morgan Stanley reaffirmed an "overweight" rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. TD Cowen initiated coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a "buy" rating on the stock. Wedbush restated an "outperform" rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, HC Wainwright reaffirmed a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $93.80.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised 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. purchased a new position in shares of Disc Medicine in the 4th quarter worth $40,000. Amalgamated Bank grew its holdings 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 acquiring an additional 219 shares during the period. Tower Research Capital LLC TRC increased its position in Disc Medicine by 47.6% during 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. Finally, KLP Kapitalforvaltning AS purchased a new position in Disc Medicine in the fourth quarter worth about $235,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

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.