Disc Medicine (NASDAQ:IRON) Director Sells $10,313.55 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 129 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $79.95, for a total value of $10,313.55. Following the transaction, the director directly owned 14,012 shares in the company, valued at $1,120,259.40. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.

Disc Medicine Trading Down 0.2%

Shares of IRON stock opened at $79.23 on Friday. The company’s 50-day moving average price is $77.76 and its 200-day moving average price is $70.38. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -12.04 and a beta of 0.97. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.17. As a group, equities analysts predict that Disc Medicine, Inc. will post -6.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen cut Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Wedbush upped their price target on Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, August 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.70.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of Disc Medicine by 8,273.0% during the second quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock worth $210,555,000 after buying an additional 2,844,408 shares during the period. BlackRock Inc. purchased a new stake in shares of Disc Medicine in the 2nd quarter valued at $180,502,000. RA Capital Management L.P. lifted its stake in Disc Medicine by 25.3% during the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after acquiring an additional 399,026 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Disc Medicine by 22.1% during the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock valued at $140,371,000 after acquiring an additional 319,621 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Disc Medicine by 0.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock valued at $127,362,000 after acquiring an additional 5,975 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.