Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 39,656 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 39,656 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.02, for a total transaction of $2,142,217.12. Following the transaction, the director now directly owns 188,981 shares of the company’s stock, valued at $10,208,753.62. The trade was a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mona Ashiya also recently made the following trade(s):

• On Friday, March 21st, Mona Ashiya sold 10,011 shares of Disc Medicine stock. The stock was sold at an average price of $54.00, for a total value of $540,594.00.
• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The shares were sold at an average price of $54.45, for a total value of $4,529,259.90.
• On Monday, March 10th, Mona Ashiya sold 202,146 shares of Disc Medicine stock. The stock was sold at an average price of $54.29, for a total transaction of $10,974,506.34.

Disc Medicine Stock Down 1.9 %

Shares of IRON traded down $0.99 during trading hours on Friday, reaching $52.24. The company’s stock had a trading volume of 1,082,703 shares, compared to its average volume of 360,836. The company has a 50 day moving average of $55.26 and a two-hundred day moving average of $56.02. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -13.13 and a beta of 0.73. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $68.73.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its position in Disc Medicine by 358.7% in the fourth quarter. FMR LLC now owns 1,866,248 shares of the company’s stock worth $118,320,000 after acquiring an additional 1,459,434 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Disc Medicine by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after purchasing an additional 83,731 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Disc Medicine by 23.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock valued at $88,421,000 after purchasing an additional 262,690 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Disc Medicine by 62.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock worth $77,170,000 after purchasing an additional 467,988 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Disc Medicine by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,068,246 shares of the company’s stock worth $67,727,000 after buying an additional 18,716 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IRON. TD Cowen began coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Scotiabank boosted their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Cantor Fitzgerald raised their target price on Disc Medicine from $99.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. Ten 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 an average target price of $93.80.

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.