Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells 22,160 Shares of Stock

Key Points

• Kevin Bitterman, a director at Disc Medicine, sold 22,160 shares at an average price of $77.23, totaling approximately $1.71 million, reducing his ownership by 4.43%.
• Disc Medicine's stock price recently increased to $89.94, with analysts maintaining strong buy ratings and a consensus average target price of $108.73.
• Institutional investors have significantly increased their holdings in Disc Medicine, with Wellington Management Group boosting their position by 67.9% in the first quarter.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 22,160 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $77.23, for a total value of $1,711,416.80. Following the completion of the transaction, the director directly owned 478,461 shares of the company's stock, valued at $36,951,543.03. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 17th, Kevin Bitterman sold 70,000 shares of Disc Medicine stock. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00.
• On Thursday, October 16th, Kevin Bitterman sold 1,425 shares of Disc Medicine stock. The stock was sold at an average price of $77.11, for a total value of $109,881.75.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The shares were sold at an average price of $70.58, for a total transaction 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 transaction of $1,233,506.82.
• On Friday, August 22nd, Kevin Bitterman sold 2,287 shares of Disc Medicine stock. The shares were sold at an average price of $61.03, for a total transaction 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 transaction 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 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 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 Disc Medicine stock traded up $15.58 during trading on Friday, hitting $89.94. The stock had a trading volume of 2,254,148 shares, compared to its average volume of 401,558. The business has a fifty day moving average of $63.05 and a two-hundred day moving average of $54.43. Disc Medicine, Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $95.95. The firm has a market cap of $3.13 billion, a P/E ratio of -20.12 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. National Bankshares set a $153.00 price target on Disc Medicine in a research note on Friday. Morgan Stanley upped their price objective on shares of Disc Medicine from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Cantor Fitzgerald raised their target price on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a report on Wednesday, October 8th. One 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $108.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Wellington Management Group LLP lifted its position in Disc Medicine by 67.9% in the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock worth $116,331,000 after buying an additional 948,094 shares in the last quarter. RA Capital Management L.P. purchased a new position in shares of Disc Medicine during the 1st quarter valued at $78,288,000. Vanguard Group Inc. increased its stake in shares of Disc Medicine by 22.2% in the first quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company's stock worth $64,782,000 after acquiring an additional 236,800 shares during the last quarter. Siren L.L.C. purchased a new stake in shares of Disc Medicine during the first quarter worth $53,207,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Disc Medicine by 11.1% during the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company's stock worth $44,678,000 after acquiring an additional 84,278 shares in the last quarter. 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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