Disc Medicine (NASDAQ:IRON) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings data on Thursday. The company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.17, FiscalAI reports.

Disc Medicine Trading Down 2.8%

Shares of NASDAQ:IRON traded down $2.21 during midday trading on Friday, reaching $77.00. The company’s stock had a trading volume of 364,271 shares, compared to its average volume of 423,289. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -11.70 and a beta of 0.97. The business has a 50 day moving average price of $72.74 and a 200 day moving average price of $69.69. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

A number of analysts recently commented on IRON shares. Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research report on Saturday. Wedbush restated an “outperform” rating and issued a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Morgan Stanley raised their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.44.

Insider Buying and Selling

In related news, CEO John D. Quisel sold 34,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.21, for a total value of $2,387,140.00. Following the sale, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at approximately $15,871,953.44. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rahul Khara sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the completion of the sale, the insider owned 52,173 shares of the company’s stock, valued at approximately $3,663,588.06. The trade was a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,712 shares of company stock worth $7,597,536. 3.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. First Trust Advisors LP acquired a new position in shares of Disc Medicine during the second quarter worth approximately $543,000. Police & Firemen s Retirement System of New Jersey increased its position in Disc Medicine by 3.3% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after acquiring an additional 215 shares during the period. Engineers Gate Manager LP bought a new stake in Disc Medicine during the 4th quarter valued at $434,000. VARCOV Co. bought a new stake in Disc Medicine during the 4th quarter valued at $423,000. Finally, Verition Fund Management LLC acquired a new position in Disc Medicine during the 3rd quarter worth $405,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

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.