Disc Medicine (NASDAQ:IRON) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume surged 155% to approximately 1.59 million shares, while Disc Medicine stock edged up 0.3% to about $79.94.
• Analysts remain broadly bullish: 11 rate the stock a Buy, with an average price target of $120.60 versus the current price; recent target increases include BMO’s $120 and Truist’s $115.
• Disc Medicine exceeded its latest quarterly EPS estimate, reporting a loss of $1.54 per share versus expectations of $1.71, although insiders have sold 131,221 shares worth approximately $10.2 million over the past 90 days.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) shares saw unusually-strong trading volume on Wednesday. Approximately 1,586,133 shares were traded during mid-day trading, an increase of 155% from the previous session's volume of 622,870 shares. The stock last traded at $79.9430 and had previously closed at $79.48.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IRON. BMO Capital Markets upped their price objective on shares of Disc Medicine from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday. Wedbush lifted their target price on shares of Disc Medicine from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Disc Medicine from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Tuesday. HC Wainwright reissued a "buy" rating and issued a $120.00 target price on shares of Disc Medicine in a report on Thursday, September 10th. Finally, Truist Financial increased their price target on Disc Medicine from $83.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Disc Medicine presently has an average rating of "Moderate Buy" and an average price target of $120.60.

Disc Medicine Trading Up 0.3%

The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The business's fifty day moving average is $71.53 and its two-hundred day moving average is $71.39. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -12.11 and a beta of 0.93.

Disc Medicine (NASDAQ:IRON - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.17. Equities analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Insider Transactions at Disc Medicine

In other news, Director Kevin Bitterman sold 27,136 shares of the business's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $70.11, for a total transaction of $1,902,504.96. Following the completion of the sale, the director owned 7,136 shares in the company, valued at $500,304.96. The trade was a 79.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jonathan Yu sold 8,796 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $83.12, for a total value of $731,123.52. Following the transaction, the chief operating officer directly owned 54,324 shares in the company, valued at $4,515,410.88. This trade represents a 13.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 131,221 shares of company stock worth $10,239,760. Insiders own 3.76% of the company's stock.

Institutional Trading of Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in Disc Medicine during the 2nd quarter worth $25,000. Allworth Financial LP bought a new stake in shares of Disc Medicine during the 2nd quarter valued at $46,000. Nykredit A S bought a new stake in shares of Disc Medicine during the 2nd quarter valued at $103,000. Quantbot Technologies LP acquired a new position in shares of Disc Medicine in the 2nd quarter valued at $153,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Disc Medicine in the 1st quarter valued at $207,000. 83.70% of the stock is owned by institutional investors.

Disc Medicine Company Profile

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company's pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

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