Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 5,738 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 5,738 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $54.11, for a total transaction of $310,483.18. Following the transaction, the director now directly owns 186,541 shares in the company, valued at approximately $10,093,733.51. The trade was a 2.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 transaction of $540,594.00.
• On Wednesday, March 19th, Mona Ashiya sold 39,656 shares of Disc Medicine stock. The shares were sold at an average price of $54.02, for a total transaction of $2,142,217.12.
• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The stock was 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 shares were sold at an average price of $54.29, for a total value of $10,974,506.34.

Disc Medicine Stock Performance

Shares of IRON traded down $0.30 during midday trading on Wednesday, hitting $52.49. 205,112 shares of the stock traded hands, compared to its average volume of 359,263. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $68.73. The business’s 50 day moving average price is $55.06 and its two-hundred day moving average price is $56.15. The firm has a market capitalization of $1.81 billion, a PE ratio of -13.19 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. As a group, equities research analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in Disc Medicine during the fourth quarter worth approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Disc Medicine by 399.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock valued at $5,903,000 after acquiring an additional 74,454 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Disc Medicine by 5.2% during the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock worth $25,144,000 after acquiring an additional 19,538 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Disc Medicine by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock worth $442,000 after acquiring an additional 1,458 shares during the last quarter. Finally, MPM Bioimpact LLC raised its position in shares of Disc Medicine by 11.1% during the fourth quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock worth $21,962,000 after purchasing an additional 34,640 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Scotiabank increased their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Wedbush reissued an “outperform” rating and issued a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Cantor Fitzgerald increased their target price on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus boosted their price target on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.