Disc Medicine, Inc. (NASDAQ:IRON) Sees Large Decrease in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) saw a significant drop in short interest in June. As of June 30th, there was short interest totalling 1,580,000 shares, a drop of 21.0% from the June 15th total of 2,000,000 shares. Based on an average trading volume of 410,900 shares, the short-interest ratio is presently 3.8 days. Currently, 9.8% of the company’s stock are sold short.

Disc Medicine Price Performance

Shares of IRON stock opened at $49.23 on Tuesday. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a fifty day moving average price of $39.03 and a 200-day moving average price of $49.21. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -14.57 and a beta of 0.57.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Equities research analysts expect that Disc Medicine will post -4.47 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Wednesday, July 10th. Morgan Stanley cut their target price on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. Raymond James lifted their target price on shares of Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. Finally, Stifel Nicolaus lifted their target price on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.57.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of IRON. Strs Ohio grew its position in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after acquiring an additional 400 shares during the period. AJOVista LLC purchased a new position in shares of Disc Medicine during the 4th quarter valued at $63,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Disc Medicine during the 4th quarter valued at $161,000. SG Americas Securities LLC lifted its stake in shares of Disc Medicine by 44.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after buying an additional 1,247 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Disc Medicine during the 1st quarter valued at $211,000. 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.