Disc Medicine, Inc. (NASDAQ:IRON) Sees Large Growth in Short Interest

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 3,790,158 shares, an increase of 53.8% from the December 15th total of 2,464,343 shares. Currently, 10.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 785,510 shares, the short-interest ratio is presently 4.8 days. Based on an average daily trading volume, of 785,510 shares, the short-interest ratio is presently 4.8 days. Currently, 10.4% of the shares of the stock are short sold.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded down $0.11 during trading on Friday, hitting $70.93. 454,807 shares of the company were exchanged, compared to its average volume of 643,055. Disc Medicine has a 1-year low of $30.82 and a 1-year high of $99.50. The company has a market capitalization of $2.68 billion, a P/E ratio of -13.26 and a beta of 0.87. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $85.55 and its 200-day moving average is $72.57.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). Equities analysts forecast that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 6,500 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $78.69, for a total transaction of $511,485.00. Following the transaction, the insider owned 37,793 shares in the company, valued at $2,973,931.17. This trade represents a 14.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Bitterman sold 754 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $91.47, for a total value of $68,968.38. Following the completion of the transaction, the director owned 14,013 shares in the company, valued at $1,281,769.11. The trade was a 5.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 274,470 shares of company stock valued at $24,896,430 over the last ninety days. 3.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Disc Medicine by 22.8% during 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 raised its position in Disc Medicine by 1,277.1% during the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 purchasing an additional 3,454 shares during the last quarter. Strs Ohio bought a new stake in shares of Disc Medicine in the 1st quarter valued at about $347,000. Finally, Rhumbline Advisers lifted its stake in shares of Disc Medicine by 10.7% in the first quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock worth $1,596,000 after acquiring an additional 3,108 shares during the period. Institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on IRON shares. Raymond James Financial reiterated a “market perform” rating on shares of Disc Medicine in a research report on Thursday. National Bankshares set a $153.00 target price on Disc Medicine in a research note on Friday, October 17th. UBS Group reaffirmed an “overweight” rating on shares of Disc Medicine in a report on Thursday. Wedbush reissued an “outperform” rating on shares of Disc Medicine in a report on Thursday. Finally, Morgan Stanley restated an “overweight” rating and set a $120.00 price objective on shares of Disc Medicine in a research report on Thursday, January 8th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.45.

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.