Disc Medicine, Inc. (NASDAQ:IRON) Sees Large Increase in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,480,000 shares, an increase of 9.6% from the August 15th total of 1,350,000 shares. Based on an average daily trading volume, of 297,200 shares, the short-interest ratio is currently 5.0 days. Approximately 9.6% of the company’s shares are short sold.

Institutional Trading of Disc Medicine

Large investors have recently bought and sold shares of the company. Atlas Venture Life Science Advisors LLC lifted its position in shares of Disc Medicine by 9.7% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares in the last quarter. Perceptive Advisors LLC increased its position in shares of Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock worth $58,788,000 after acquiring an additional 353,382 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, May 28th. Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a report on Monday. Finally, BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus target price of $64.13.

Disc Medicine Stock Performance

Disc Medicine stock traded up $0.30 during trading on Wednesday, reaching $47.65. 147,939 shares of the company’s stock were exchanged, compared to its average volume of 356,980. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -14.10 and a beta of 0.59. The company’s 50-day moving average is $46.97 and its two-hundred day moving average is $43.43.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08. Analysts anticipate that Disc Medicine will post -4.19 EPS for the current year.

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.