Kevin Bitterman Sells 18,039 Shares of Disc Medicine (NASDAQ:IRON) Stock

Key Points

• Kevin Bitterman, a director at Disc Medicine, sold 18,039 shares at an average price of $68.38, totaling over $1.23 million, reducing his ownership by 3.05% to 572,582 shares.
• Disc Medicine's stock is currently trading at approximately $70.75, with a market cap of $2.46 billion and a price-to-earnings ratio of -15.83.
• Analysts have varying ratings on Disc Medicine, with a consensus target price of $98.30 and a mix of buy and sell recommendations from prominent firms.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director Kevin Bitterman sold 18,039 shares of Disc Medicine stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $68.38, for a total transaction of $1,233,506.82. Following the completion of the transaction, the director owned 572,582 shares of the company's stock, valued at $39,153,157.16. This represents a 3.05% 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 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 transaction of $5,079,007.38.
• 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 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 stock was 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 transaction 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 transaction of $518,351.68.
• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The stock was sold at an average price of $61.17, for a total transaction 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 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 transaction of $40,590.32.

Disc Medicine Stock Performance

NASDAQ IRON traded up $0.47 during trading on Thursday, reaching $70.75. The company's stock had a trading volume of 509,349 shares, compared to its average volume of 392,803. 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 firm has a market cap of $2.46 billion, a price-to-earnings ratio of -15.83 and a beta of 0.80. Disc Medicine, Inc. has a twelve month low of $30.82 and a twelve month high of $72.68. The business's fifty day moving average price is $61.42 and its 200-day moving average price is $53.57.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a research report on Wednesday. Truist Financial began coverage on shares of Disc Medicine in a research note on Monday, July 21st. They issued a "buy" rating and a $86.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Thursday, July 3rd. Morgan Stanley raised their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of Disc Medicine in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.30.

Hedge Funds Weigh In On Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in shares of Disc Medicine by 12.5% during the 1st quarter. Arizona State Retirement System now owns 5,315 shares of the company's stock worth $264,000 after purchasing an additional 590 shares during the period. Amalgamated Bank grew its stake in shares of 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 period. Rhumbline Advisers grew its stake in shares of Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company's stock worth $1,596,000 after purchasing an additional 3,108 shares during the period. Northern Trust Corp grew its stake in Disc Medicine by 11.7% in the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company's stock valued at $10,365,000 after acquiring an additional 21,796 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Disc Medicine by 10.9% in the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company's stock valued at $668,000 after acquiring an additional 1,322 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

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.

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