Disc Medicine, Inc. (NASDAQ:IRON) Insider Rahul Khara Sells 7,500 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the sale, the insider now owns 14,035 shares of the company’s stock, valued at $779,503.90. This represents a 34.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rahul Khara also recently made the following trade(s):

• On Thursday, January 2nd, Rahul Khara sold 7,500 shares of Disc Medicine stock. The stock was sold at an average price of $62.75, for a total value of $470,625.00.

Disc Medicine Trading Down 1.2 %

IRON opened at $54.32 on Wednesday. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a 50-day moving average of $61.66 and a 200 day moving average of $54.29. The firm has a market cap of $1.62 billion, a P/E ratio of -13.65 and a beta of 0.74.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. On average, research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank increased their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $88.90.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in IRON. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock worth $90,429,000 after purchasing an additional 83,731 shares during the period. State Street Corp grew its stake in shares of Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after buying an additional 235,115 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after buying an additional 303,954 shares during the period. Geode Capital Management LLC lifted its stake in shares of Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after acquiring an additional 70,983 shares during the last quarter. Finally, Walleye Capital LLC boosted its holdings in Disc Medicine by 53.7% during the 3rd quarter. Walleye Capital LLC now owns 209,236 shares of the company’s stock valued at $10,282,000 after acquiring an additional 73,140 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.