Disc Medicine (NASDAQ:IRON) Insider Sells $486,062.64 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 7,378 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $65.88, for a total value of $486,062.64. Following the sale, the insider owned 85,211 shares in the company, valued at approximately $5,613,700.68. The trade was a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

William Jacob Savage also recently made the following trade(s):

• On Tuesday, February 17th, William Jacob Savage sold 3,256 shares of Disc Medicine stock. The shares were sold at an average price of $62.86, for a total value of $204,672.16.
• On Monday, December 15th, William Jacob Savage sold 13,093 shares of Disc Medicine stock. The stock was sold at an average price of $91.22, for a total transaction of $1,194,343.46.

Disc Medicine Stock Down 5.1%

Shares of NASDAQ:IRON traded down $3.26 during midday trading on Wednesday, reaching $61.10. The company’s stock had a trading volume of 643,077 shares, compared to its average volume of 746,011. The firm has a market capitalization of $2.31 billion, a P/E ratio of -10.20 and a beta of 0.87. The firm has a 50 day moving average of $73.86 and a 200-day moving average of $75.69. Disc Medicine, Inc. has a 12-month low of $30.82 and a 12-month high of $99.50. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) EPS for the quarter, beating analysts’ consensus estimates of ($1.69) by $0.07. The firm had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. On average, research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on IRON. Morgan Stanley set a $75.00 price objective on shares of Disc Medicine in a research note on Tuesday, February 17th. Truist Financial lowered their target price on shares of Disc Medicine from $114.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Wedbush decreased their price target on shares of Disc Medicine from $110.00 to $88.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Cantor Fitzgerald dropped their price objective on Disc Medicine from $153.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Finally, Stifel Nicolaus lowered their target price on shares of Disc Medicine from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.80.

Institutional Trading of Disc Medicine

Several institutional investors have recently added to or reduced their stakes in IRON. TimesSquare Capital Management LLC bought a new position in Disc Medicine in the 3rd quarter worth about $12,038,000. Y Intercept Hong Kong Ltd grew its stake in shares of Disc Medicine by 361.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,287 shares of the company’s stock worth $2,860,000 after purchasing an additional 33,905 shares during the last quarter. Atle Fund Management AB grew its holdings in shares of Disc Medicine by 85.3% in the 3rd quarter. Atle Fund Management AB now owns 45,690 shares of the company’s stock worth $3,019,000 after acquiring an additional 21,038 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Disc Medicine by 11.1% during the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock valued at $44,678,000 after buying an additional 84,278 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Disc Medicine during the third quarter valued at $689,000. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

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.