Disc Medicine (NASDAQ:IRON) Shares Gap Down – Here’s What Happened

Disc Medicine, Inc. (NASDAQ:IRON)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $60.52, but opened at $58.00. Disc Medicine shares last traded at $58.12, with a volume of 61,726 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRON. Jefferies Financial Group started coverage on Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a research note on Tuesday. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Wedbush reissued an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $88.50.

Disc Medicine Trading Down 5.0 %

The firm’s 50 day moving average price is $62.82 and its 200-day moving average price is $53.66. The company has a market cap of $1.71 billion, a P/E ratio of -14.48 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. Analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, Director William Richard White sold 7,136 shares of Disc Medicine stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,758 shares of company stock worth $5,400,990. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several institutional investors and hedge funds have recently bought and sold shares of IRON. Frazier Life Sciences Management L.P. increased its stake in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Logos Global Management LP acquired a new position in Disc Medicine during the second quarter worth approximately $41,690,000. Point72 Asset Management L.P. bought a new stake in Disc Medicine in the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C lifted its position in shares of Disc Medicine by 53.8% in the second 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 last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Disc Medicine by 68.2% during the 3rd quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after acquiring an additional 303,954 shares during the period. 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.