Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 202,146 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 202,146 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the transaction, the director now directly owns 208,742 shares of the company’s stock, valued at $11,332,603.18. This represents a 49.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mona Ashiya also recently made the following trade(s):

• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The shares were sold at an average price of $54.45, for a total value of $4,529,259.90.

Disc Medicine Trading Up 0.1 %

Disc Medicine stock traded up $0.04 during trading hours on Wednesday, reaching $53.93. 539,617 shares of the stock were exchanged, compared to its average volume of 361,162. The stock has a 50 day moving average of $56.62 and a two-hundred day moving average of $55.94. The company has a market cap of $1.86 billion, a P/E ratio of -13.55 and a beta of 0.73. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $68.86.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRON has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Scotiabank increased their price target on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Wedbush reaffirmed 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. TD Cowen assumed coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $89.10.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Disc Medicine in the fourth quarter valued at about $40,000. Tower Research Capital LLC TRC raised its stake in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after acquiring an additional 266 shares in the last quarter. Quest Partners LLC bought a new position in shares of Disc Medicine in the third quarter worth about $131,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $146,000. Institutional investors own 83.70% of the company’s stock.

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.