Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $105,357.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $50.17, for a total value of $105,357.00. Following the completion of the transaction, the insider now directly owns 66,398 shares of the company’s stock, valued at $3,331,187.66. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $44.24 on Friday. Disc Medicine, Inc. has a 1 year low of $29.48 and a 1 year high of $68.73. The stock has a fifty day moving average price of $46.93 and a two-hundred day moving average price of $54.86. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -11.12 and a beta of 0.77.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). On average, analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IRON shares. Morgan Stanley restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Cantor Fitzgerald raised their price target on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. TD Cowen initiated coverage on Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating for the company. Wedbush restated an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus upped their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine currently has an average rating of “Buy” and an average target price of $93.80.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of IRON. Sterling Capital Management LLC grew its holdings in shares of Disc Medicine by 798.4% in the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares during the period. Amalgamated Bank boosted its position in Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after purchasing an additional 219 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Disc Medicine in the fourth quarter valued at $40,000. Tower Research Capital LLC TRC increased its position in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Disc Medicine during the 4th quarter worth $235,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.