Disc Medicine (NASDAQ:IRON) Trading Down 2.6%

Disc Medicine, Inc. (NASDAQ:IRON) dropped 2.6% on Tuesday . The company traded as low as $47.75 and last traded at $47.93. Approximately 168,558 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 412,829 shares. The stock had previously closed at $49.23.

Analysts Set New Price Targets

IRON has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, May 28th. BMO Capital Markets restated an “outperform” rating and issued a $70.00 price target (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Stifel Nicolaus upped their price target on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Wedbush restated an “outperform” rating and issued a $57.00 price target (up previously from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.57.

Disc Medicine Stock Performance

The company has a market capitalization of $1.14 billion, a PE ratio of -13.67 and a beta of 0.57. The company has a 50 day moving average price of $40.07 and a 200 day moving average price of $49.10.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.09). On average, equities analysts forecast that Disc Medicine, Inc. will post -4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Disc Medicine by 26.5% during the third quarter. Wellington Management Group LLP now owns 54,745 shares of the company’s stock valued at $2,572,000 after purchasing an additional 11,475 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Disc Medicine by 18.9% during the third quarter. Vanguard Group Inc. now owns 665,452 shares of the company’s stock valued at $31,263,000 after purchasing an additional 105,685 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Disc Medicine during the fourth quarter valued at about $528,000. Legato Capital Management LLC bought a new stake in shares of Disc Medicine during the fourth quarter valued at about $305,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Disc Medicine during the fourth quarter valued at about $161,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.