Disc Medicine (NASDAQ:IRON) Insider Rahul Khara Sells 7,500 Shares

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the transaction, the insider owned 52,173 shares of the company’s stock, valued at $3,663,588.06. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Disc Medicine Stock Down 0.5%

IRON stock opened at $70.45 on Wednesday. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $68.76 and a 200 day moving average of $71.34. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The firm has a market cap of $2.69 billion, a PE ratio of -10.64 and a beta of 0.93.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, May 5th. The company reported ($1.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). On average, research analysts forecast that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Morgan Stanley increased their price target on Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Wells Fargo & Company lifted their price objective on shares of Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wedbush restated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and a consensus target price of $105.80.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Disc Medicine by 22.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after buying an additional 2,807 shares during the period. Millennium Management LLC lifted its stake in Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after acquiring an additional 100,620 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Disc Medicine by 3.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock worth $4,793,000 after acquiring an additional 3,454 shares in the last quarter. Legal & General Group Plc increased its position in Disc Medicine by 18.0% during the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,682 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Disc Medicine by 21.6% during the second quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after purchasing an additional 2,983 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.