Disc Medicine (NASDAQ:IRON) Announces Earnings Results

Disc Medicine (NASDAQ:IRON) released its quarterly earnings data on Thursday. The company reported ($1.62) earnings per share for the quarter, topping the consensus estimate of ($1.69) by $0.07, FiscalAI reports. The business had revenue of ($19.88) million during the quarter.

Disc Medicine Stock Up 1.5%

Shares of NASDAQ:IRON traded up $1.02 during midday trading on Thursday, reaching $67.91. The company’s stock had a trading volume of 907,172 shares, compared to its average volume of 937,199. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $74.70 and a 200-day moving average of $75.34. The firm has a market capitalization of $2.56 billion, a P/E ratio of -12.69 and a beta of 0.88. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $99.50.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, COO Jonathan Yen-Wen Yu sold 3,231 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $62.86, for a total value of $203,100.66. Following the sale, the chief operating officer owned 54,324 shares in the company, valued at approximately $3,414,806.64. This represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jean M. Franchi sold 7,081 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $65.47, for a total transaction of $463,593.07. Following the transaction, the chief financial officer directly owned 71,343 shares of the company’s stock, valued at $4,670,826.21. This represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 284,761 shares of company stock valued at $24,913,484 over the last three months. 3.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of Disc Medicine by 184.8% during the fourth quarter. Invesco Ltd. now owns 61,070 shares of the company’s stock valued at $4,850,000 after acquiring an additional 39,627 shares in the last quarter. KVP Capital Advisors LP bought a new position in Disc Medicine in the 4th quarter worth about $4,626,000. XTX Topco Ltd purchased a new stake in Disc Medicine during the 4th quarter valued at about $1,834,000. VARCOV Co. bought a new stake in Disc Medicine during the 4th quarter valued at about $423,000. Finally, Vestal Point Capital LP raised its holdings in Disc Medicine by 47.0% in the fourth quarter. Vestal Point Capital LP now owns 735,000 shares of the company’s stock worth $58,366,000 after buying an additional 235,000 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IRON shares. Wells Fargo & Company dropped their price target on Disc Medicine from $109.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Raymond James Financial restated a “market perform” rating on shares of Disc Medicine in a report on Thursday, January 15th. Morgan Stanley set a $75.00 target price on shares of Disc Medicine in a research report on Tuesday, February 17th. BMO Capital Markets cut their target price on shares of Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.82.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.