Disc Medicine (NASDAQ:IRON) Shares Gap Down – Time to Sell?

Disc Medicine, Inc. (NASDAQ:IRON)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $60.52, but opened at $58.00. Disc Medicine shares last traded at $58.12, with a volume of 61,726 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IRON. Wedbush reissued 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. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Tuesday, October 15th. Scotiabank boosted their price objective on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday. Finally, Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Tuesday, November 5th. Nine equities 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.50.

Disc Medicine Stock Down 2.6 %

The stock’s 50 day moving average is $62.66 and its 200-day moving average is $53.72.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Richard White sold 7,136 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,758 shares of company stock valued at $5,400,990. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 337 shares during the last quarter. Quest Partners LLC acquired a new stake in Disc Medicine during the 3rd quarter worth about $131,000. Quantbot Technologies LP acquired a new stake in Disc Medicine during the third quarter worth about $146,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Disc Medicine during the 3rd quarter worth approximately $228,000. Hedge funds and other 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.