Kevin Bitterman Sells 49,164 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 49,164 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the sale, the director directly owned 13,499 shares in the company, valued at approximately $1,082,214.83. The trade was a 78.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total value of $416,135.94.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Performance

Shares of IRON stock opened at $79.23 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -12.04 and a beta of 0.97. The company has a 50 day moving average price of $77.76 and a 200 day moving average price of $70.38. Disc Medicine, Inc. has a one year low of $40.00 and a one year high of $99.50.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.17. Sell-side analysts anticipate that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in IRON. State of Wyoming bought a new position in Disc Medicine during the second quarter valued at approximately $25,000. ANTIPODES PARTNERS Ltd bought a new stake in Disc Medicine in the fourth quarter worth approximately $33,000. Allworth Financial LP acquired a new position in shares of Disc Medicine during the 2nd quarter worth $46,000. Nykredit A S acquired a new stake in shares of Disc Medicine in the second quarter worth about $103,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Disc Medicine during the 4th quarter valued at about $141,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRON. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Wall Street Zen cut Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Morgan Stanley restated an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Wedbush raised their price objective on Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, HC Wainwright raised their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $107.70.

About Disc Medicine

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.