Disc Medicine (NASDAQ:IRON) Trading 6% Higher – Time to Buy?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) were up 6% on Tuesday . The stock traded as high as $81.19 and last traded at $81.6540. Approximately 283,034 shares changed hands during trading, a decline of 54% from the average daily volume of 620,642 shares. The stock had previously closed at $77.01.

Analyst Ratings Changes

Several research firms recently weighed in on IRON. Morgan Stanley raised their price objective on Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Wedbush reaffirmed an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Finally, Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Moderate Buy” and an average target price of $104.44.

Disc Medicine Trading Up 0.4%

The firm has a 50-day moving average price of $69.97 and a 200-day moving average price of $70.05. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $3.06 billion, a PE ratio of -12.09 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). As a group, equities analysts forecast that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William Jacob Savage sold 5,731 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $66.38, for a total value of $380,423.78. Following the transaction, the insider owned 79,480 shares in the company, valued at approximately $5,275,882.40. This represents a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Yen-Wen Yu sold 9,700 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $72.66, for a total value of $704,802.00. Following the transaction, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at approximately $3,947,181.84. This trade represents a 15.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 85,000 shares of company stock worth $5,956,865 in the last three months. Insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in IRON. ANTIPODES PARTNERS Ltd purchased a new position in shares of Disc Medicine in the fourth quarter valued at $33,000. KBC Group NV bought a new stake in shares of Disc Medicine during the 4th quarter valued at $80,000. Persistent Asset Partners Ltd purchased a new stake in Disc Medicine during the 4th quarter worth about $141,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Disc Medicine by 36.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after purchasing an additional 490 shares in the last quarter. Finally, Avanza Fonder AB boosted its stake in Disc Medicine by 14.1% in the 4th quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock worth $151,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.