Disc Medicine (NASDAQ:IRON) CEO John Quisel Sells 33,000 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John Quisel sold 33,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $79.15, for a total transaction of $2,611,950.00. Following the sale, the chief executive officer directly owned 226,064 shares in the company, valued at $17,892,965.60. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Disc Medicine Stock Up 0.2%

NASDAQ:IRON opened at $80.20 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The firm has a market cap of $307.57 million, a P/E ratio of -12.19 and a beta of 1.00. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The firm has a 50-day simple moving average of $75.13 and a two-hundred day simple moving average of $69.89.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.17. Analysts predict that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the company. Palo Alto Investors LP bought a new position in Disc Medicine in the second quarter valued at about $30,473,488,000. Capstone Investment Advisors LLC bought a new stake in shares of Disc Medicine during the 2nd quarter valued at about $245,000. Bank of America Corp DE purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at about $9,882,000. Man Group plc purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at about $1,092,000. Finally, Jupiter Topco LLC bought a new position in shares of Disc Medicine in the 2nd quarter worth approximately $844,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen raised Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Wedbush restated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday. Finally, HC Wainwright lifted their price target on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.50.

About Disc Medicine

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.