Disc Medicine (NASDAQ:IRON) Insider Rahul Khara Sells 1,649 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 1,649 shares of Disc Medicine stock in a transaction on Monday, June 29th. The stock was sold at an average price of $75.00, for a total transaction of $123,675.00. Following the sale, the insider directly owned 52,173 shares of the company’s stock, valued at approximately $3,912,975. This trade represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rahul Khara also recently made the following trade(s):

• On Friday, June 26th, Rahul Khara sold 851 shares of Disc Medicine stock. The stock was sold at an average price of $75.00, for a total transaction of $63,825.00.
• On Thursday, June 18th, Rahul Khara sold 7,500 shares of Disc Medicine stock. The shares were sold at an average price of $70.22, for a total value of $526,650.00.

Disc Medicine Stock Down 1.8%

Disc Medicine stock traded down $1.36 during midday trading on Tuesday, reaching $73.14. The company’s stock had a trading volume of 729,507 shares, compared to its average volume of 612,517. The company has a market cap of $2.79 billion, a P/E ratio of -11.05 and a beta of 0.93. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $68.99 and a 200-day simple moving average of $70.77. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.62) by ($0.03). On average, research analysts expect that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. JPMorgan Chase & Co. grew its position in shares of Disc Medicine by 110.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after acquiring an additional 828,248 shares during the last quarter. BVF Inc. IL purchased a new stake in Disc Medicine in the 4th quarter valued at $51,616,000. Jennison Associates LLC purchased a new stake in Disc Medicine in the 4th quarter valued at $42,252,000. Perceptive Advisors LLC acquired a new stake in Disc Medicine during the 4th quarter worth $35,794,000. Finally, RA Capital Management L.P. boosted its stake in Disc Medicine by 25.3% during the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after purchasing an additional 399,026 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

IRON has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Wedbush reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Wells Fargo & Company boosted their price target on shares of Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley upped their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.80.

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.