Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells 14,183 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 14,183 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total transaction of $928,277.35. Following the transaction, the insider now owns 40,405 shares in the company, valued at approximately $2,644,507.25. The trade was a 25.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

William Jacob Savage also recently made the following trade(s):

• On Friday, November 15th, William Jacob Savage sold 9,158 shares of Disc Medicine stock. The stock was sold at an average price of $59.64, for a total value of $546,183.12.

Disc Medicine Trading Down 2.9 %

NASDAQ IRON traded down $1.85 during trading hours on Tuesday, reaching $62.65. 349,706 shares of the company’s stock were exchanged, compared to its average volume of 354,334. The firm has a fifty day moving average of $52.78 and a 200-day moving average of $46.56. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The stock has a market cap of $1.86 billion, a PE ratio of -15.74 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. As a group, research analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on IRON. Wedbush reiterated an “outperform” rating and issued a $83.00 price objective (up previously from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank lifted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Disc Medicine presently has an average rating of “Buy” and an average target price of $85.80.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently modified their holdings of IRON. Frazier Life Sciences Management L.P. increased its holdings in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares in the last quarter. Logos Global Management LP bought a new position in Disc Medicine in the 2nd quarter valued at $41,690,000. Point72 Asset Management L.P. bought a new stake in shares of Disc Medicine during the second quarter worth $34,318,000. Deerfield Management Company L.P. Series C raised its position in shares of 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 worth $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Disc Medicine by 59.8% during 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 acquiring an additional 353,382 shares during the period. 83.70% of the stock is currently 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.