Disc Medicine, Inc. (NASDAQ:IRON) Insider William Jacob Savage Sells 9,158 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 9,158 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares in the company, valued at $2,409,754.20. The trade was a 18.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Disc Medicine Trading Up 3.8 %

Shares of NASDAQ IRON opened at $59.55 on Wednesday. The firm has a market cap of $1.77 billion, a P/E ratio of -14.96 and a beta of 0.60. The business’s 50 day moving average is $51.51 and its 200-day moving average is $45.61. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. Analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRON shares. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank raised their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $85.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine during the second quarter worth about $129,000. Quest Partners LLC acquired a new stake in Disc Medicine during the third quarter worth about $131,000. Finally, Quantbot Technologies LP bought a new position in Disc Medicine in the 3rd quarter valued at about $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.