Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $1,902,504.96 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 27,136 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $70.11, for a total transaction of $1,902,504.96. Following the sale, the director directly owned 7,136 shares of the company’s stock, valued at approximately $500,304.96. This trade represents a 79.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The shares were sold at an average price of $79.96, for a total transaction 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 transaction of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The shares were sold at an average price of $80.17, for a total transaction of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Down 2.4%

NASDAQ IRON traded down $1.62 during trading hours on Tuesday, hitting $67.30. The company had a trading volume of 599,527 shares, compared to its average volume of 567,058. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The firm’s 50 day moving average is $77.63 and its 200 day moving average is $70.91. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The company has a market capitalization of $258.10 million, a price-to-earnings ratio of -10.23 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last posted its earnings results 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. Sell-side analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in Disc Medicine during the 2nd quarter valued at $25,000. Allworth Financial LP bought a new stake in shares of Disc Medicine in the 2nd quarter worth about $46,000. Nykredit A S bought a new stake in shares of Disc Medicine in the 2nd quarter worth about $103,000. Quantbot Technologies LP acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at about $153,000. Finally, Saxon Interests Inc. bought a new position in shares of Disc Medicine during the fourth quarter worth about $205,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $128.00 price target on shares of Disc Medicine in a research note on Thursday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a research note on Tuesday, September 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Disc Medicine in a research note on Thursday, September 10th. Finally, Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Eleven 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. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.55.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.