Disc Medicine (NASDAQ:IRON) Announces Quarterly Earnings Results

Disc Medicine (NASDAQ:IRON) issued its quarterly earnings data on Thursday. The company reported ($1.54) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.17, FiscalAI reports.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded down $2.21 during trading on Friday, hitting $77.00. 364,271 shares of the company were exchanged, compared to its average volume of 423,289. The business’s 50 day moving average is $72.74 and its 200-day moving average is $69.69. The company has a market capitalization of $2.94 billion, a P/E ratio of -11.70 and a beta of 0.97. The company has a quick ratio of 24.00, a current ratio of 24.00 and a debt-to-equity ratio of 0.04. Disc Medicine has a 1-year low of $40.00 and a 1-year high of $99.50.

Insider Activity

In related news, CEO John D. Quisel sold 34,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the sale, the chief executive officer owned 226,064 shares of the company’s stock, valued at $15,871,953.44. This trade represents a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total value of $1,287,764.28. Following the sale, the chief operating officer owned 54,324 shares in the company, valued at $3,758,677.56. This represents a 25.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 105,712 shares of company stock worth $7,597,536. Insiders own 3.76% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Disc Medicine by 184.8% during the fourth quarter. Invesco Ltd. now owns 61,070 shares of the company’s stock worth $4,850,000 after purchasing an additional 39,627 shares during the last quarter. KVP Capital Advisors LP bought a new position in Disc Medicine in the 4th quarter valued at approximately $4,626,000. XTX Topco Ltd acquired a new stake in Disc Medicine during the 4th quarter worth approximately $1,834,000. VARCOV Co. acquired a new stake in Disc Medicine during the 4th quarter worth approximately $423,000. Finally, Vestal Point Capital LP grew its holdings in Disc Medicine by 47.0% during the 4th quarter. Vestal Point Capital LP now owns 735,000 shares of the company’s stock worth $58,366,000 after acquiring an additional 235,000 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRON has been the topic of a number of analyst reports. Morgan Stanley increased their target price on shares of Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday. Wedbush reissued an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.44.

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.