Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 3,137 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Pamela Stephenson sold 3,137 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $171,217.46. Following the transaction, the insider now owns 69,529 shares of the company’s stock, valued at approximately $3,794,892.82. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Disc Medicine Price Performance

NASDAQ:IRON opened at $54.35 on Friday. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The firm has a 50-day moving average price of $59.26 and a 200 day moving average price of $55.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IRON. Stifel Nicolaus boosted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Scotiabank lifted their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Wednesday, January 22nd. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Wedbush restated an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $88.90.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Geode Capital Management LLC raised its stake in shares of Disc Medicine by 17.6% during the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after buying an additional 70,983 shares during the last quarter. State Street Corp lifted its stake in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after purchasing an additional 235,115 shares during the period. Verition Fund Management LLC bought a new position in shares of Disc Medicine in the 3rd quarter worth $589,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Disc Medicine by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after buying an additional 19,401 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

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.