Disc Medicine (NASDAQ:IRON) Trading 7% Higher

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report)'s stock price traded up 7% on Wednesday . The stock traded as high as $33.48 and last traded at $33.45. 178,086 shares were traded during trading, a decline of 55% from the average session volume of 399,956 shares. The stock had previously closed at $31.26.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Disc Medicine from $71.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Wedbush restated an "outperform" rating and set a $43.00 price target (down from $84.00) on shares of Disc Medicine in a report on Monday, April 1st. Cantor Fitzgerald restated an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a report on Wednesday, May 15th. BMO Capital Markets reduced their target price on Disc Medicine from $80.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, April 2nd. Finally, Raymond James upped their target price on Disc Medicine from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.71.

Disc Medicine Stock Up 6.1 %

The company has a 50 day simple moving average of $38.04 and a 200-day simple moving average of $52.78. The stock has a market capitalization of $818.67 million, a price-to-earnings ratio of -9.81 and a beta of 0.44.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). As a group, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the business's stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.24% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Strs Ohio bought a new position in Disc Medicine in the 3rd quarter valued at about $28,000. AJOVista LLC bought a new stake in Disc Medicine during the 4th quarter worth approximately $63,000. China Universal Asset Management Co. Ltd. bought a new stake in Disc Medicine during the 4th quarter worth approximately $161,000. ProShare Advisors LLC bought a new stake in Disc Medicine during the 1st quarter worth approximately $211,000. Finally, Bleakley Financial Group LLC bought a new stake in Disc Medicine during the 4th quarter worth approximately $215,000. 83.70% of the stock is owned by institutional investors.

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.