Disc Medicine (NASDAQ:IRON) Sets New 52-Week High – Time to Buy?

Disc Medicine, Inc. (NASDAQ:IRON) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $69.87 and last traded at $69.28, with a volume of 360328 shares. The stock had previously closed at $67.78.

Analysts Set New Price Targets

IRON has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Disc Medicine in a research report on Monday, July 21st. Raymond James Financial assumed coverage on Disc Medicine in a research note on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research report on Saturday, September 27th. Finally, Morgan Stanley increased their price target on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.30.

Disc Medicine Stock Up 2.2%

The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -15.50 and a beta of 0.80. The company has a current ratio of 32.11, a quick ratio of 32.11 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $61.04 and its 200-day simple moving average is $53.36.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other news, Director Kevin Bitterman sold 2,287 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $61.03, for a total transaction of $139,575.61. Following the completion of the transaction, the director directly owned 590,621 shares of the company’s stock, valued at approximately $36,045,599.63. This represents a 0.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John D. Quisel sold 34,800 shares of the company’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total value of $1,925,484.00. Following the transaction, the chief executive officer directly owned 161,828 shares in the company, valued at $8,953,943.24. This represents a 17.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,713 shares of company stock valued at $7,465,583. 3.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently made changes to their positions in IRON. Arizona State Retirement System boosted its holdings in Disc Medicine by 12.5% during the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after buying an additional 590 shares in the last quarter. Amalgamated Bank increased its holdings in Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after acquiring an additional 3,108 shares during the period. Northern Trust Corp lifted its position in shares of Disc Medicine by 11.7% during the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock valued at $10,365,000 after acquiring an additional 21,796 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Disc Medicine by 10.9% during the 1st quarter. MetLife Investment Management LLC now owns 13,454 shares of the company’s stock worth $668,000 after acquiring an additional 1,322 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.