Disc Medicine (NASDAQ:IRON) Trading Up 6%

Disc Medicine, Inc. (NASDAQ:IRON)’s share price rose 6% on Wednesday . The company traded as high as $44.10 and last traded at $44.10. Approximately 14,411 shares were traded during trading, a decline of 97% from the average daily volume of 419,077 shares. The stock had previously closed at $41.62.

Analyst Ratings Changes

Several equities research analysts have recently commented on IRON shares. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, May 28th. Raymond James raised their price target on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $57.00 price objective (up from $43.00) on shares of Disc Medicine in a research note on Friday, June 14th. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Morgan Stanley dropped their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.57.

Disc Medicine Stock Up 3.7 %

The firm has a market cap of $1.07 billion, a P/E ratio of -12.98 and a beta of 0.57. The stock’s 50-day moving average is $35.75 and its 200-day moving average is $49.95.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). As a group, analysts expect that Disc Medicine, Inc. will post -4.47 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently made changes to their positions in IRON. Perceptive Advisors LLC increased its position in shares of Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of Disc Medicine by 19.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after purchasing an additional 130,000 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Disc Medicine by 12.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares in the last quarter. Vanguard Group Inc. lifted its position in Disc Medicine by 18.9% during the 3rd quarter. Vanguard Group Inc. now owns 665,452 shares of the company’s stock worth $31,263,000 after buying an additional 105,685 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Disc Medicine by 309.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 84,200 shares of the company’s stock valued at $3,956,000 after acquiring an additional 63,644 shares in the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

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.