Kevin Bitterman Sells 13,033 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Key Points

• Director Kevin Bitterman sold 13,033 shares of Disc Medicine, Inc. (NASDAQ:IRON) for approximately $797,228, reducing his ownership by 2.01% and leaving him with 633,969 shares valued at around $38.78 million.
• Disc Medicine reported a quarterly EPS of ($1.02), missing estimates, and analysts expect the company to post an EPS of ($4.07) for the current year.
• Eleven investment analysts recommend buying Disc Medicine stock, with an average target price of $95.73, following several institutions increasing their stakes in the company.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 13,033 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $61.17, for a total transaction of $797,228.61. Following the completion of the transaction, the director directly owned 633,969 shares of the company's stock, valued at approximately $38,779,883.73. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 transaction 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 Trading Up 0.0%

Shares of IRON stock traded up $0.03 during midday trading on Friday, hitting $60.61. The company had a trading volume of 224,396 shares, compared to its average volume of 378,410. The company's 50 day simple moving average is $52.69 and its 200 day simple moving average is $51.49. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. 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 issued its quarterly earnings data 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, equities analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently added to or reduced their stakes in IRON. RA Capital Management L.P. acquired a new position in Disc Medicine in the first quarter valued at $78,288,000. FMR LLC grew its position in Disc Medicine by 358.7% during the fourth quarter. FMR LLC now owns 1,866,248 shares of the company's stock valued at $118,320,000 after acquiring an additional 1,459,434 shares during the period. Siren L.L.C. purchased a new stake in Disc Medicine during the first quarter valued at about $53,207,000. Wellington Management Group LLP grew its position in Disc Medicine by 67.9% during the first quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company's stock valued at $116,331,000 after acquiring an additional 948,094 shares during the period. Finally, Janus Henderson Group PLC grew its position in Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company's stock valued at $77,170,000 after acquiring an additional 467,988 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IRON shares. Raymond James Financial started coverage on Disc Medicine in a research report on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. Truist Financial assumed coverage on Disc Medicine in a report on Monday. They issued a "buy" rating and a $86.00 price objective for the company. BMO Capital Markets lifted their price objective on Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Morgan Stanley assumed coverage on Disc Medicine in a report on Thursday, July 3rd. They issued an "overweight" rating and a $85.00 price objective for the company. Eleven investment 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 has an average rating of "Buy" and an average price target of $95.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.