Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, an increase of 6.6% from the December 15th total of 1,660,000 shares. Currently, 11.3% of the shares of the stock are sold short. Based on an average daily volume of 316,200 shares, the days-to-cover ratio is currently 5.6 days.

Insider Transactions at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the transaction, the insider now directly owns 14,035 shares in the company, valued at $880,696.25. This trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,758 shares of company stock valued at $5,400,990. 4.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently made changes to their positions in the business. Amalgamated Bank increased its position in shares of Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Disc Medicine by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after acquiring an additional 771 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after acquiring an additional 793 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Disc Medicine by 18.0% during the third quarter. MetLife Investment Management LLC now owns 11,377 shares of the company’s stock valued at $559,000 after acquiring an additional 1,735 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Price Performance

IRON traded down $1.71 on Friday, hitting $58.24. The company had a trading volume of 200,967 shares, compared to its average volume of 191,661. The stock has a fifty day simple moving average of $63.05 and a 200-day simple moving average of $53.40. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The firm has a market capitalization of $1.73 billion, a P/E ratio of -14.63 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. Equities research analysts expect that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRON. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Monday, December 9th. Wedbush reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a research note on Friday, January 10th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Stifel Nicolaus increased their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $87.50.

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.