Disc Medicine, Inc. (NASDAQ:IRON) Sees Significant Increase in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a growth of 6.4% from the January 15th total of 2,040,000 shares. Based on an average daily volume of 336,500 shares, the days-to-cover ratio is currently 6.4 days. Approximately 12.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research firms recently weighed in on IRON. Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Stifel Nicolaus raised their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.90.

Insider Buying and Selling at Disc Medicine

In other news, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total value of $416,550.00. Following the completion of the sale, the insider now owns 14,035 shares in the company, valued at approximately $779,503.90. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Richard White sold 1,957 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,763 shares of company stock worth $4,843,795. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IRON. Sterling Capital Management LLC increased its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares in the last quarter. Quest Partners LLC acquired a new position in Disc Medicine in the 3rd quarter valued at about $131,000. Finally, Quantbot Technologies LP purchased a new position in Disc Medicine in the 3rd quarter valued at about $146,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

NASDAQ:IRON remained flat at $54.10 during mid-day trading on Monday. 190,095 shares of the company’s stock traded hands, compared to its average volume of 480,000. The stock has a market capitalization of $1.61 billion, a P/E ratio of -13.59 and a beta of 0.73. The business has a 50-day simple moving average of $59.95 and a 200 day simple moving average of $54.94. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

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.