Disc Medicine (NASDAQ:IRON) Stock Price Down 4.1%

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) shares dropped 4.1% on Friday . The company traded as low as $28.61 and last traded at $28.78. Approximately 46,547 shares changed hands during trading, a decline of 89% from the average daily volume of 415,544 shares. The stock had previously closed at $30.02.

Analyst Ratings Changes

IRON has been the subject of several recent analyst reports. HC Wainwright reissued a "buy" rating and set a $70.00 price objective on shares of Disc Medicine in a report on Monday, April 1st. BMO Capital Markets cut their price objective on shares of Disc Medicine from $80.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 2nd. Morgan Stanley dropped their price target on shares of Disc Medicine from $75.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 2nd. Wedbush restated an "outperform" rating and set a $43.00 price target (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.29.

Disc Medicine Stock Performance

The business's 50-day moving average is $55.78 and its two-hundred day moving average is $55.39. The firm has a market capitalization of $692.58 million, a price-to-earnings ratio of -8.22 and a beta of 0.18.

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 for the quarter, missing the consensus estimate of ($0.75) by ($0.22). Analysts forecast that Disc Medicine, Inc. will post -4.44 EPS for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the firm's stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the completion of the sale, the insider now owns 1,402,186 shares of the company's stock, valued at approximately $94,857,882.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director William Richard White sold 2,560 shares of the firm's stock in a transaction 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 legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $3,213,375.00. Following the completion of the transaction, the insider now owns 1,402,186 shares in the company, valued at approximately $94,857,882.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,560 shares of company stock valued at $10,228,908. 4.71% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in Disc Medicine in the third quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its position in 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 buying an additional 200 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at $28,000. AJOVista LLC purchased a new stake in shares of Disc Medicine during the 4th quarter valued at $63,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Disc Medicine by 666.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,339 shares of the company's stock valued at $135,000 after purchasing an additional 2,034 shares during the last quarter. 83.70% of the stock is currently 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.