Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $1,251,434.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 19,820 shares of Disc Medicine stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at $4,550,184.10. This represents a 21.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Disc Medicine Stock Down 2.2 %

NASDAQ IRON opened at $64.12 on Friday. The business’s fifty day simple moving average is $60.41 and its 200-day simple moving average is $51.54. The firm has a market cap of $1.91 billion, a PE ratio of -16.11 and a beta of 0.76. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. Research analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Jefferies Financial Group assumed coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Stifel Nicolaus raised their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine has a consensus rating of “Buy” and a consensus target price of $87.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IRON. Frazier Life Sciences Management L.P. increased its stake in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the last quarter. Logos Global Management LP purchased a new position in shares of Disc Medicine during the 2nd quarter worth $41,690,000. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the 2nd quarter worth about $34,318,000. Deerfield Management Company L.P. Series C raised its holdings in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after buying an additional 357,730 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Disc Medicine by 68.2% in the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock valued at $36,828,000 after buying an additional 303,954 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

About Disc Medicine

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.