Disc Medicine (NASDAQ:IRON) Director Sells 25,519 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 25,519 shares of the company’s stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $80.23, for a total value of $2,047,389.37. Following the completion of the sale, the director directly owned 12,991 shares of the company’s stock, valued at $1,042,267.93. The trade was a 66.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Kevin Bitterman sold 5,312 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $424,694.40.
• On Monday, October 19th, Kevin Bitterman sold 10,994 shares of Disc Medicine stock. The shares were sold at an average price of $79.97, for a total value of $879,190.18.
• On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96.
• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The stock was sold at an average price of $79.96, for a total value of $135,052.44.
• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Down 4.4%

NASDAQ:IRON traded down $3.48 during trading hours on Wednesday, hitting $76.00. The stock had a trading volume of 4,638,911 shares, compared to its average volume of 643,026. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The business has a 50 day simple moving average of $71.53 and a two-hundred day simple moving average of $71.39. The company has a market cap of $2.92 billion, a PE ratio of -11.55 and a beta of 0.93.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Analysts predict that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Disc Medicine during the second quarter worth about $180,502,000. Wellington Management Group LLP grew its stake in Disc Medicine by 0.3% in the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after purchasing an additional 5,975 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Disc Medicine by 191.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock valued at $73,280,000 after buying an additional 735,300 shares during the last quarter. Opaleye Management Inc. increased its holdings in Disc Medicine by 103.1% in the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after buying an additional 434,000 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Disc Medicine by 14.7% in the first quarter. Jennison Associates LLC now owns 610,382 shares of the company’s stock valued at $39,028,000 after buying an additional 78,303 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IRON shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Disc Medicine in a report on Thursday, September 10th. Wall Street Zen cut shares of Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley upped their price objective on shares of Disc Medicine from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Truist Financial raised their target price on Disc Medicine from $83.00 to $115.00 and gave the company a “buy” rating in a research note on Monday. Eleven investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.70.

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.