Disc Medicine (NASDAQ:IRON) Hits New 1-Year High – Time to Buy?

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $99.50 and last traded at $96.38, with a volume of 76922 shares traded. The stock had previously closed at $93.26.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Raymond James Financial reiterated a “strong-buy” rating and issued a $117.00 price objective on shares of Disc Medicine in a research report on Monday. Truist Financial upped their price target on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a report on Monday, November 10th. Stifel Nicolaus assumed coverage on shares of Disc Medicine in a research report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Finally, Morgan Stanley upped their target price on Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Disc Medicine Trading Down 0.6%

The business’s fifty day moving average price is $84.51 and its 200 day moving average price is $66.60. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.46 billion, a PE ratio of -17.14 and a beta of 0.87.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). As a group, analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00. Following the sale, the director directly owned 385,549 shares of the company’s stock, valued at approximately $34,279,161.59. This trade represents a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of Disc Medicine stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the completion of the sale, the chief operating officer owned 40,555 shares of the company’s stock, valued at $3,435,008.50. This trade represents a 42.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 213,585 shares of company stock worth $16,898,513 in the last 90 days. Insiders own 3.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new stake in shares of Disc Medicine in the third quarter worth approximately $405,000. Vestal Point Capital LP increased its position in Disc Medicine by 257.1% during the third quarter. Vestal Point Capital LP now owns 500,000 shares of the company’s stock worth $33,040,000 after purchasing an additional 360,000 shares during the last quarter. Palo Alto Investors LP raised its stake in Disc Medicine by 54.0% during the third quarter. Palo Alto Investors LP now owns 224,300 shares of the company’s stock worth $14,822,000 after purchasing an additional 78,609 shares during the period. Millennium Management LLC boosted its holdings in shares of Disc Medicine by 340.0% in the 3rd quarter. Millennium Management LLC now owns 161,000 shares of the company’s stock valued at $10,639,000 after purchasing an additional 124,407 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of Disc Medicine in the 3rd quarter valued at $907,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.