Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 68,923 Shares

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 68,923 shares of Disc Medicine stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $91.24, for a total transaction of $6,288,534.52. Following the transaction, the director directly owned 14,161 shares in the company, valued at approximately $1,292,049.64. The trade was a 82.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kevin Bitterman also recently made the following trade(s):

• On Friday, December 12th, Kevin Bitterman sold 45,507 shares of Disc Medicine stock. The stock was sold at an average price of $92.39, for a total value of $4,204,391.73.
• On Monday, December 15th, Kevin Bitterman sold 62,693 shares of Disc Medicine stock. The shares were sold at an average price of $91.28, for a total value of $5,722,617.04.
• On Monday, December 15th, Kevin Bitterman sold 7,000 shares of Disc Medicine stock. The stock was sold at an average price of $91.87, for a total value of $643,090.00.
• On Friday, October 17th, Kevin Bitterman sold 70,000 shares of Disc Medicine stock. The shares were sold at an average price of $88.91, for a total value of $6,223,700.00.
• On Thursday, October 16th, Kevin Bitterman sold 1,425 shares of Disc Medicine stock. The shares were sold at an average price of $77.11, for a total value of $109,881.75.
• On Wednesday, October 15th, Kevin Bitterman sold 22,160 shares of Disc Medicine stock. The shares were sold at an average price of $77.23, for a total transaction of $1,711,416.80.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The stock was sold at an average price of $70.58, for a total transaction of $5,079,007.38.
• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The stock was sold at an average price of $68.38, for a total transaction of $1,233,506.82.

Disc Medicine Stock Down 0.6%

NASDAQ IRON traded down $0.53 on Tuesday, hitting $91.47. The stock had a trading volume of 639,414 shares, compared to its average volume of 536,679. The business’s fifty day moving average price is $86.99 and its 200 day moving average price is $68.22. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -17.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $99.50.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). Equities research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wedbush upped their price objective on shares of Disc Medicine from $90.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Cantor Fitzgerald upped their price target on shares of Disc Medicine from $132.00 to $153.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. National Bankshares set a $153.00 price objective on shares of Disc Medicine in a research note on Friday, October 17th. 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 report on Thursday, October 30th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $117.00 price target on shares of Disc Medicine in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IRON. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock worth $116,331,000 after acquiring an additional 948,094 shares in the last quarter. RA Capital Management L.P. acquired a new position in Disc Medicine in the 1st quarter worth about $78,288,000. Vanguard Group Inc. boosted its position in Disc Medicine by 3.7% during the third quarter. Vanguard Group Inc. now owns 1,448,059 shares of the company’s stock worth $95,688,000 after purchasing an additional 51,323 shares in the last quarter. Siren L.L.C. purchased a new position in Disc Medicine during the first quarter worth approximately $53,207,000. Finally, JPMorgan Chase & Co. grew its holdings in Disc Medicine by 11.1% in the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock valued at $44,678,000 after purchasing an additional 84,278 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.