Disc Medicine (NASDAQ:IRON) Shares Gap Down – Should You Sell?

Disc Medicine, Inc. (NASDAQ:IRON) gapped down prior to trading on Thursday . The stock had previously closed at $77.08, but opened at $72.47. Disc Medicine shares last traded at $71.8480, with a volume of 222,183 shares trading hands.

Wall Street Analyst Weigh In

IRON has been the topic of several recent research reports. National Bankshares set a $153.00 price target on Disc Medicine in a research report on Friday, October 17th. Morgan Stanley restated an “overweight” rating and set a $120.00 price target on shares of Disc Medicine in a research note on Thursday, January 8th. Wedbush reiterated an “outperform” rating on shares of Disc Medicine in a research report on Thursday. Cowen reissued a “buy” rating on shares of Disc Medicine in a research note on Friday, December 19th. Finally, Truist Financial raised their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Disc Medicine Stock Down 6.0%

The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. The firm’s 50-day moving average price is $86.13 and its 200 day moving average price is $72.30. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -13.61 and a beta of 0.87.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, November 6th. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). Sell-side analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Insider Buying and Selling

In other Disc Medicine news, insider William Jacob Savage sold 13,093 shares of Disc Medicine stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $91.22, for a total value of $1,194,343.46. Following the completion of the sale, the insider directly owned 75,702 shares of the company’s stock, valued at approximately $6,905,536.44. The trade was a 14.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John D. Quisel sold 40,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $93.05, for a total value of $3,722,000.00. Following the transaction, the chief executive officer directly owned 171,828 shares in the company, valued at approximately $15,988,595.40. This represents a 18.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 344,470 shares of company stock worth $31,120,130 in the last 90 days. 3.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Disc Medicine by 22.8% in 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 lifted its stake in shares of Disc Medicine by 1,277.1% in the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Disc Medicine by 3.7% in 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 valued at $4,793,000 after purchasing an additional 3,454 shares in the last quarter. Strs Ohio purchased a new stake in shares of Disc Medicine during the 1st quarter worth about $347,000. Finally, Rhumbline Advisers increased its position in Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock worth $1,596,000 after purchasing an additional 3,108 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.