Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Up 13.6% in September

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,590,000 shares, an increase of 13.6% from the September 15th total of 1,400,000 shares. Currently, 10.2% of the company’s shares are sold short. Based on an average daily volume of 207,800 shares, the short-interest ratio is presently 7.7 days.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IRON. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a report on Tuesday. Wells Fargo & Company started coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. Finally, Scotiabank began coverage on Disc Medicine in a research report on Wednesday. They set a “sector outperform” rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $63.89.

Disc Medicine Stock Up 0.7 %

Shares of IRON stock traded up $0.35 on Wednesday, hitting $47.99. The company had a trading volume of 563,686 shares, compared to its average volume of 348,045. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The firm has a market cap of $1.19 billion, a P/E ratio of -14.09 and a beta of 0.59. The company has a 50-day moving average price of $48.32 and a 200-day moving average price of $41.24.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.08. Equities research analysts expect that Disc Medicine will post -4.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Atlas Venture Life Science Advisors LLC raised its stake in shares of Disc Medicine by 9.7% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after buying an additional 222,223 shares during the period. Frazier Life Sciences Management L.P. raised its position in Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after purchasing an additional 357,730 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after purchasing an additional 353,382 shares during the period. Finally, Logos Global Management LP purchased a new stake in shares of Disc Medicine during the second quarter worth about $41,690,000. 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.