Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Up 10.1% in October

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,630,000 shares, an increase of 10.1% from the October 15th total of 1,480,000 shares. Based on an average daily trading volume, of 269,200 shares, the short-interest ratio is presently 6.1 days. Currently, 10.5% of the company’s shares are sold short.

Analysts Set New Price Targets

Several brokerages have issued reports on IRON. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 price target (up previously from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. HC Wainwright increased their price objective on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group started coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective on the stock. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.80.

Insiders Place Their Bets

In related news, Director William Richard White sold 7,136 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 7,538 shares of company stock worth $437,875. Insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

A number of hedge funds have recently made changes to their positions in IRON. Amalgamated Bank increased its holdings in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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. The Manufacturers Life Insurance Company raised its position in shares of Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock valued at $1,428,000 after purchasing an additional 771 shares during the period. SG Americas Securities LLC lifted its stake in shares of Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after buying an additional 793 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Disc Medicine by 23.0% during the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after buying an additional 856 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Stock Performance

NASDAQ IRON traded down $2.11 during trading hours on Monday, hitting $57.35. 337,658 shares of the company traded hands, compared to its average volume of 355,110. The business’s 50-day moving average is $51.20 and its 200-day moving average is $45.20. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -14.94 and a beta of 0.60. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. Analysts predict that Disc Medicine will post -4.05 EPS for the current year.

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.