Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Grows By 6.6%

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,770,000 shares, a growth of 6.6% from the December 31st total of 1,660,000 shares. Approximately 11.3% of the company’s shares are sold short. Based on an average daily trading volume, of 316,200 shares, the short-interest ratio is presently 5.6 days.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $54.99 on Tuesday. The stock’s fifty day moving average price is $61.83 and its 200-day moving average price is $54.23. The company has a market cap of $1.64 billion, a P/E ratio of -13.82 and a beta of 0.74. Disc Medicine has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, sell-side analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of Disc Medicine stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the transaction, the chief executive officer now directly owns 72,065 shares in the company, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,421 shares of company stock valued at $4,973,428 in the last quarter. Company insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently modified their holdings of IRON. Geode Capital Management LLC raised its position in Disc Medicine by 17.6% in the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after acquiring an additional 70,983 shares during the period. State Street Corp increased its stake in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Verition Fund Management LLC bought a new position in Disc Medicine in the 3rd quarter worth $589,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Disc Medicine by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock valued at $7,890,000 after purchasing an additional 19,401 shares during the period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on IRON. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Tuesday, November 5th. Scotiabank raised their target price on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus increased their target price on Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Disc Medicine has an average rating of “Buy” and a consensus target price of $88.90.

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.