Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) COO Sells $87,873.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) COO Jonathan Yen-Wen Yu sold 1,610 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total transaction of $87,873.80. Following the transaction, the chief operating officer now directly owns 40,555 shares in the company, valued at $2,213,491.90. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Disc Medicine Trading Up 0.3 %

IRON opened at $54.52 on Friday. The business’s 50 day moving average is $59.05 and its 200-day moving average is $55.19. The stock has a market cap of $1.62 billion, a PE ratio of -13.70 and a beta of 0.73. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60.

Institutional Investors Weigh In On Disc Medicine

A number of hedge funds have recently made changes to their positions in IRON. Sterling Capital Management LLC raised its holdings in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after buying an additional 503 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Disc Medicine during the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 acquiring an additional 337 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Disc Medicine during the third quarter valued at approximately $131,000. Institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IRON. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Scotiabank raised their target price on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.