Jean M. Franchi Sells 3,136 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) CFO Jean M. Franchi sold 3,136 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the sale, the chief financial officer now directly owns 69,530 shares of the company’s stock, valued at approximately $3,794,947.40. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Disc Medicine Stock Performance

Shares of Disc Medicine stock traded down $0.11 during trading hours on Thursday, reaching $54.35. The company’s stock had a trading volume of 369,811 shares, compared to its average volume of 402,546. The company’s 50 day simple moving average is $59.46 and its 200 day simple moving average is $55.02. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The stock has a market cap of $1.62 billion, a P/E ratio of -13.66 and a beta of 0.73.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRON. FMR LLC lifted its position in shares of Disc Medicine by 358.7% in the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after buying an additional 1,459,434 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Disc Medicine by 62.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after buying an additional 467,988 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after buying an additional 262,690 shares during the last quarter. State Street Corp lifted its position in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after buying an additional 235,115 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Disc Medicine in the 4th quarter worth about $5,579,000. 83.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IRON shares. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Stifel Nicolaus raised their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Scotiabank raised their price target 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. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $88.90.

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.