Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $928,277.35 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 14,183 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at approximately $2,644,507.25. This represents a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

William Jacob Savage also recently made the following trade(s):

• On Friday, November 15th, William Jacob Savage sold 9,158 shares of Disc Medicine stock. The stock was sold at an average price of $59.64, for a total transaction of $546,183.12.

Disc Medicine Price Performance

NASDAQ IRON opened at $64.55 on Thursday. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -16.26 and a beta of 0.60. The firm’s fifty day moving average price is $53.08 and its 200 day moving average price is $46.79.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Institutional Trading of Disc Medicine

Large investors have recently bought and sold shares of the business. Amalgamated Bank increased its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Disc Medicine by 2.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after purchasing an additional 771 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after buying an additional 793 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Disc Medicine by 3.7% in the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after buying an additional 1,468 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on IRON shares. Scotiabank upped their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wedbush restated an “outperform” rating and set a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Finally, HC Wainwright lifted their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Company Profile

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.