Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,000,000 shares, an increase of 6.4% from the May 31st total of 1,880,000 shares. Based on an average daily trading volume, of 516,100 shares, the days-to-cover ratio is currently 3.9 days. Currently, 11.5% of the company’s shares are sold short.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $44.43 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -13.14 and a beta of 0.57. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company’s fifty day moving average is $36.45 and its two-hundred day moving average is $49.87.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on IRON. Stifel Nicolaus upped their target price on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wedbush reiterated 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. Raymond James increased their price objective on shares of Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Friday, June 14th. Finally, Morgan Stanley reduced 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 research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.57.

Insiders Place Their Bets

In other news, Director William Richard White sold 2,560 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.24% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after acquiring an additional 145,781 shares during the period. Perceptive Advisors LLC increased its holdings in shares of Disc Medicine by 14.2% in the 4th 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 during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 worth $58,788,000 after acquiring an additional 353,382 shares during the period. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 19.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after acquiring an additional 130,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Disc Medicine by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 782,751 shares of the company’s stock worth $48,734,000 after acquiring an additional 18,207 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

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.