Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 2,560 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Disc Medicine Trading Down 4.1 %

Shares of IRON stock traded down $1.31 on Monday, reaching $30.52. The company had a trading volume of 387,330 shares, compared to its average volume of 425,234. The stock has a market cap of $736.75 million, a PE ratio of -8.74 and a beta of 0.18. The company has a 50-day moving average of $57.94 and a 200-day moving average of $55.86. Disc Medicine, Inc. has a 12 month low of $21.70 and a 12 month high of $77.60.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.22). Sell-side analysts anticipate that Disc Medicine, Inc. will post -4.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on IRON shares. BMO Capital Markets cut their price target on Disc Medicine from $80.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, April 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price target on shares of Disc Medicine in a report on Monday, April 1st. Raymond James reissued an "outperform" rating and set a $40.00 price objective (down from $75.00) on shares of Disc Medicine in a report on Monday, April 1st. Wedbush reissued an "outperform" rating and set a $43.00 price objective (down from $84.00) on shares of Disc Medicine in a report on Monday, April 1st. Finally, Morgan Stanley dropped their price objective on Disc Medicine from $75.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.29.

Hedge Funds Weigh In On Disc Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Disc Medicine in the 3rd quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC grew its position in shares of Disc Medicine by 50.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company's stock valued at $35,000 after purchasing an additional 200 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Disc Medicine in the 2nd quarter valued at approximately $28,000. AJOVista LLC acquired a new position in shares of Disc Medicine in the 4th quarter valued at approximately $63,000. Finally, Tower Research Capital LLC TRC boosted its position in Disc Medicine by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the company's stock worth $135,000 after acquiring an additional 2,034 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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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