Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $470,625.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00. Following the transaction, the insider now directly owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. This represents a 34.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Disc Medicine Trading Up 0.9 %

Shares of NASDAQ:IRON opened at $62.54 on Thursday. The stock has a market capitalization of $1.86 billion, a P/E ratio of -15.71 and a beta of 0.75. The stock’s 50-day moving average price is $62.87 and its 200-day moving average price is $52.66. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. As a group, research analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. Atlas Venture Life Science Advisors LLC increased its position in shares of Disc Medicine by 9.7% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock valued at $113,101,000 after acquiring an additional 222,223 shares during the period. Wellington Management Group LLP raised its holdings in shares of Disc Medicine by 4.8% during the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C boosted its holdings in Disc Medicine by 53.8% in 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. Finally, Logos Global Management LP purchased a new position in Disc Medicine during the 2nd quarter valued at $41,690,000. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Scotiabank raised their price objective on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a research report on Monday, December 9th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Buy” and an average price target of $87.50.

About Disc Medicine

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.