Disc Medicine (NASDAQ:IRON) Shares Gap Up – Still a Buy?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) gapped up prior to trading on Wednesday . The stock had previously closed at $50.92, but opened at $52.25. Disc Medicine shares last traded at $50.35, with a volume of 61,029 shares traded.

Wall Street Analyst Weigh In

IRON has been the topic of several research reports. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research report on Wednesday. They set a “buy” rating and a $89.00 target price on the stock. Scotiabank assumed coverage on shares of Disc Medicine in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.40.

Disc Medicine Price Performance

The business’s fifty day moving average price is $48.96 and its two-hundred day moving average price is $41.96. The stock has a market capitalization of $1.14 billion, a PE ratio of -13.61 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. As a group, equities research analysts anticipate that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 worth $54,000 after buying an additional 337 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after buying an additional 793 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in Disc Medicine during the second quarter worth $636,000. Nantahala Capital Management LLC purchased a new position in Disc Medicine during the second quarter valued at $6,760,000. Finally, Algert Global LLC purchased a new position in Disc Medicine during the second quarter valued at $239,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.