Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) CFO Sells 3,136 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) CFO Jean M. Franchi sold 3,136 shares of Disc Medicine stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now directly owns 69,530 shares in the company, valued at approximately $3,794,947.40. This trade represents a 4.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Disc Medicine Stock Performance

NASDAQ IRON opened at $54.52 on Friday. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -13.70 and a beta of 0.73. The firm’s 50 day moving average price is $59.05 and its two-hundred day moving average price is $55.19.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRON. FMR LLC grew its position in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after purchasing an additional 1,459,434 shares in the last quarter. Janus Henderson Group PLC grew its position in Disc Medicine by 62.4% during the 4th quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after purchasing an additional 467,988 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Disc Medicine by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares in the last quarter. State Street Corp grew its position in Disc Medicine by 39.7% during the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Disc Medicine during the 4th quarter valued at $5,579,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on IRON shares. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank boosted their target price on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and set a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Nine 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 data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $88.90.

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.