Disc Medicine (NASDAQ:IRON) Trading Down 6%

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price traded down 6% on Tuesday . The stock traded as low as $43.32 and last traded at $43.70. 198,390 shares were traded during mid-day trading, a decline of 53% from the average session volume of 419,754 shares. The stock had previously closed at $46.47.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price (up previously from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. Morgan Stanley cut their price objective on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. BMO Capital Markets reissued an “outperform” rating and set a $70.00 price objective (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, May 28th. Finally, Stifel Nicolaus raised their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Disc Medicine currently has a consensus rating of “Moderate Buy” and an average target price of $62.57.

Disc Medicine Price Performance

The firm has a market capitalization of $1.06 billion, a PE ratio of -12.91 and a beta of 0.57. The business’s 50-day moving average price is $35.46 and its 200-day moving average price is $50.07.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Equities analysts forecast that Disc Medicine, Inc. will post -4.47 earnings per share for the current year.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Disc Medicine by 37.2% in the 1st quarter. California State Teachers Retirement System now owns 11,800 shares of the company’s stock valued at $735,000 after purchasing an additional 3,200 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Disc Medicine by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 521,773 shares of the company’s stock valued at $32,465,000 after buying an additional 78,595 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after buying an additional 353,382 shares during the period. Vanguard Group Inc. grew its holdings in Disc Medicine by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock valued at $48,734,000 after buying an additional 18,207 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in Disc Medicine in the 1st quarter valued at about $7,429,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.