Disc Medicine (NASDAQ:IRON) Insider William Jacob Savage Sells 16,035 Shares of Company Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Savage sold 16,035 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $85.09, for a total transaction of $1,364,418.15. Following the completion of the transaction, the insider directly owned 63,445 shares of the company’s stock, valued at $5,398,535.05. This represents a 20.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $83.23 on Friday. The stock’s 50-day moving average is $71.59 and its two-hundred day moving average is $71.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 20.30 and a quick ratio of 24.14. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The company has a market cap of $318.77 million, a price-to-earnings ratio of -13.13 and a beta of 0.96.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share for the quarter, beating the consensus estimate of ($1.63) by $0.10. Analysts forecast that Disc Medicine, Inc. will post -6.20 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial lifted their target price on Disc Medicine from $83.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. BMO Capital Markets upped their target price on shares of Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, October 19th. Cantor Fitzgerald increased their target price on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. HC Wainwright raised their price target on Disc Medicine from $120.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Thursday, October 15th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.18.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aberdeen Group plc increased its position in Disc Medicine by 36.4% during the 3rd quarter. Aberdeen Group plc now owns 597,841 shares of the company’s stock worth $39,135,000 after purchasing an additional 159,667 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Disc Medicine by 142.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,576 shares of the company’s stock worth $1,281,000 after buying an additional 11,493 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Disc Medicine during the 3rd quarter worth approximately $707,000. AlphaCentric Advisors LLC lifted its holdings in shares of Disc Medicine by 77.7% in the 3rd quarter. AlphaCentric Advisors LLC now owns 7,161 shares of the company’s stock valued at $469,000 after buying an additional 3,131 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in shares of Disc Medicine by 31.9% in the 3rd quarter. Alps Advisors Inc. now owns 50,856 shares of the company’s stock valued at $3,329,000 after buying an additional 12,291 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

About Disc Medicine

Disc Medicine, Inc. is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function. The company’s development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.