Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $171,217.46 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Pamela Stephenson sold 3,137 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the sale, the insider now directly owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. This trade represents a 4.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Disc Medicine Stock Up 0.3 %

IRON opened at $54.52 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of -13.70 and a beta of 0.73. The business has a fifty day simple moving average of $59.05 and a 200-day simple moving average of $55.19. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Scotiabank raised their target price on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, January 22nd. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Stifel Nicolaus raised their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Disc Medicine presently has a consensus rating of “Buy” and a consensus target price of $88.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in Disc Medicine in the fourth quarter valued at $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Disc Medicine by 399.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock valued at $5,903,000 after purchasing an additional 74,454 shares during the period. Woodline Partners LP boosted its holdings in Disc Medicine by 5.2% in the fourth quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock valued at $25,144,000 after purchasing an additional 19,538 shares during the period. ProShare Advisors LLC boosted its holdings in Disc Medicine by 26.5% in the fourth quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock valued at $442,000 after purchasing an additional 1,458 shares during the period. Finally, MPM Bioimpact LLC boosted its holdings in Disc Medicine by 11.1% in the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock valued at $21,962,000 after purchasing an additional 34,640 shares during the period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.