John D. Quisel Sells 12,791 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 72,065 shares of the company’s stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Disc Medicine Trading Down 2.3 %

NASDAQ:IRON opened at $63.50 on Thursday. The stock has a 50-day moving average price of $58.19 and a 200 day moving average price of $50.24. The stock has a market capitalization of $1.89 billion, a P/E ratio of -15.95 and a beta of 0.76. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, research analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently bought and sold shares of IRON. Point72 Asset Management L.P. purchased a new stake in Disc Medicine in the 2nd quarter worth $34,318,000. Verition Fund Management LLC purchased a new position in shares of Disc Medicine during the third quarter valued at about $589,000. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% in 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 purchasing an additional 969,834 shares during the last quarter. Blue Owl Capital Holdings LP lifted its position in shares of Disc Medicine by 38.6% in the second quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock worth $9,702,000 after buying an additional 60,000 shares in the last quarter. Finally, 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 worth $46,119,000 after buying an additional 357,730 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. Wedbush reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. Finally, Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $87.50.

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.