Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells 1,425 Shares of Stock

Key Points

• Disc Medicine director Kevin Bitterman sold 1,425 shares of stock on October 16th at an average price of $77.11, totaling approximately $109,882.
• The company's stock reached $89.94 during midday trading, with recent modifications in holdings from hedge funds indicating a strong interest, as 83.70% of the stock is owned by institutional investors.
• In its latest quarterly earnings report, Disc Medicine missed analysts' consensus estimates with an earnings per share of ($1.58), below the estimated ($1.17).

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 1,425 shares of the business's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $77.11, for a total transaction of $109,881.75. Following the sale, the director directly owned 477,036 shares in the company, valued at $36,784,245.96. The trade was a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, October 17th, Kevin Bitterman sold 70,000 shares of Disc Medicine stock. The shares were sold at an average price of $88.91, for a total transaction of $6,223,700.00.
• On Wednesday, October 15th, Kevin Bitterman sold 22,160 shares of Disc Medicine stock. The shares were sold at an average price of $77.23, for a total value of $1,711,416.80.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38.
• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The shares were sold at an average price of $68.38, for a total value of $1,233,506.82.
• On Friday, August 22nd, Kevin Bitterman sold 2,287 shares of Disc Medicine stock. The stock was sold at an average price of $61.03, for a total value of $139,575.61.
• On Thursday, August 14th, Kevin Bitterman sold 7,212 shares of Disc Medicine stock. The stock was sold at an average price of $60.99, for a total value of $439,859.88.
• On Wednesday, August 13th, Kevin Bitterman sold 24,962 shares of Disc Medicine stock. The shares were 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 shares were 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 shares were sold at an average price of $61.17, for a total value of $797,228.61.

Disc Medicine Price Performance

Shares of NASDAQ IRON traded up $15.58 during midday trading on Friday, reaching $89.94. The stock had a trading volume of 2,254,148 shares, compared to its average volume of 401,558. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -20.12 and a beta of 0.80. 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 has a 50-day moving average of $63.05 and a 200-day moving average of $54.43. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $95.95.

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). As a group, research analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Wedbush lifted their target price on Disc Medicine from $90.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday. Raymond James Financial increased their price target on shares of Disc Medicine from $89.00 to $108.00 and gave the company a "strong-buy" rating in a research report on Friday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald boosted their price objective on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $108.73.

Hedge Funds Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank grew its position in 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 during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Disc Medicine by 13,428.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company's stock worth $47,000 after buying an additional 940 shares during the period. CWM LLC lifted its stake in shares of Disc Medicine by 213.5% during the second quarter. CWM LLC now owns 1,044 shares of the company's stock worth $55,000 after buying an additional 711 shares during the period. Avanza Fonder AB purchased a new stake in shares of Disc Medicine during the second quarter valued at $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Disc Medicine by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company's stock valued at $71,000 after acquiring an additional 181 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

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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