Disc Medicine (NASDAQ:IRON) Shares Gap Down to $62.26

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $62.26, but opened at $26.50. Disc Medicine shares last traded at $27.14, with a volume of 1,031,965 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Monday. Stifel Nicolaus cut their price target on shares of Disc Medicine from $104.00 to $71.00 and set a “buy” rating on the stock in a research note on Tuesday. BMO Capital Markets cut their price target on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $43.00 price objective (down previously from $84.00) on shares of Disc Medicine in a research note on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Read Our Latest Research Report on IRON

Disc Medicine Stock Down 6.4 %

The stock’s 50 day moving average price is $64.16 and its two-hundred day moving average price is $57.00.

Disc Medicine (NASDAQ:IRONGet Free Report) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). Research analysts forecast that Disc Medicine, Inc. will post -4.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kevin Bitterman sold 20,000 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the sale, the director now directly owns 786,160 shares of the company’s stock, valued at $50,314,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the sale, the insider now directly owns 1,402,186 shares of the company’s stock, valued at $94,857,882.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Bitterman sold 20,000 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the transaction, the director now directly owns 786,160 shares in the company, valued at $50,314,240. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock valued at $13,347,500. Corporate insiders own 4.71% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its holdings in Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after purchasing an additional 127,404 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in Disc Medicine by 19.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after purchasing an additional 130,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Disc Medicine by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock valued at $44,160,000 after purchasing an additional 99,092 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Disc Medicine by 280.4% during the second quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock valued at $28,919,000 after purchasing an additional 480,082 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

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