Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $135,052.44 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 1,689 shares of Disc Medicine stock in a transaction on Friday, September 4th. The stock was sold at an average price of $79.96, for a total transaction of $135,052.44. Following the transaction, the director directly owned 13,427 shares in the company, valued at approximately $1,073,622.92. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded down $0.33 during midday trading on Wednesday, hitting $76.51. The stock had a trading volume of 716,828 shares, compared to its average volume of 566,252. The company’s 50-day moving average price is $77.93 and its 200-day moving average price is $70.67. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $293.42 million, a P/E ratio of -11.63 and a beta of 0.97.

Disc Medicine (NASDAQ:IRON) last announced its earnings results 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 research analysts predict that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wedbush boosted their price objective on Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 price target 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 research note on Tuesday, September 1st. Finally, Wall Street Zen cut Disc Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Disc Medicine by 22.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after acquiring an additional 2,807 shares in the last quarter. Millennium Management LLC boosted its stake in Disc Medicine by 1,277.1% during the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Disc Medicine by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after purchasing an additional 3,454 shares in the last quarter. Legal & General Group Plc boosted its holdings in Disc Medicine by 18.0% in the second quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock worth $1,276,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Disc Medicine by 21.6% during the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after buying an additional 2,983 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.