Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Rises By 21.4%

Key Points

• Short interest jumped 21.4% in March to 5,460,074 shares (about 14.8% of the stock), leaving a short-interest ratio of 9.5 days based on average daily volume.
• Insider selling accelerated: CEO John Quisel sold 13,264 shares and company insiders sold 60,410 shares totaling roughly $3.91 million over the past three months, leaving insiders with 3.64% ownership.
• Analysts hold a consensus “Moderate Buy” on Disc Medicine with an average price target of $104.80, while the stock traded around $69.45 and has a market cap near $2.65 billion.

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 5,460,074 shares, a growth of 21.4% from the March 15th total of 4,496,970 shares. Currently, 14.8% of the company's stock are short sold. Based on an average daily trading volume, of 574,461 shares, the short-interest ratio is currently 9.5 days.

Insider Activity at Disc Medicine

In related news, CEO John D. Quisel sold 13,264 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total value of $833,775.04. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares of the company's stock, valued at $14,210,383.04. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider William Jacob Savage sold 5,731 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $66.38, for a total transaction of $380,423.78. Following the completion of the transaction, the insider owned 79,480 shares in the company, valued at $5,275,882.40. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,410 shares of company stock worth $3,909,753 over the last three months. Company insiders own 3.64% of the company's stock.

Institutional Trading of Disc Medicine

Several hedge funds have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd purchased a new stake in Disc Medicine during the fourth quarter worth $33,000. Aster Capital Management DIFC Ltd acquired a new position in Disc Medicine during the third quarter worth about $38,000. KBC Group NV acquired a new position in Disc Medicine during the fourth quarter worth about $80,000. Avanza Fonder AB lifted its holdings in shares of Disc Medicine by 54.0% in the third quarter. Avanza Fonder AB now owns 1,668 shares of the company's stock valued at $110,000 after purchasing an additional 585 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $141,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley set a $75.00 price target on shares of Disc Medicine in a research note on Tuesday, February 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Disc Medicine in a research note on Wednesday, January 21st. BMO Capital Markets dropped their price objective on Disc Medicine from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, February 17th. TD Cowen reiterated a "buy" rating on shares of Disc Medicine in a research report on Friday, December 19th. Finally, Cantor Fitzgerald decreased their target price on Disc Medicine from $153.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.80.

Disc Medicine Stock Down 1.0%

Disc Medicine stock opened at $69.45 on Friday. The stock has a 50 day moving average of $64.58 and a two-hundred day moving average of $76.09. Disc Medicine has a twelve month low of $40.00 and a twelve month high of $99.50. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -11.59 and a beta of 0.91. The company has a current ratio of 21.94, a quick ratio of 21.94 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.62) EPS for the quarter, topping the consensus estimate of ($1.69) by $0.07. The company had revenue of ($19.88) million for the quarter, compared to analysts' expectations of $0.15 million. As a group, research analysts expect that Disc Medicine will post -4.07 earnings per share for the current year.

About Disc Medicine

Disc Medicine, Inc NASDAQ: IRON is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company's pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.

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