Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells 12,791 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Disc Medicine Price Performance

NASDAQ IRON opened at $64.50 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -16.21 and a beta of 0.76. The stock’s fifty day moving average price is $58.83 and its 200 day moving average price is $50.53. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data 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. Research analysts expect that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRON. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Stifel Nicolaus increased their target price on shares of Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Disc Medicine has an average rating of “Buy” and an average target price of $87.50.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Disc Medicine in the second quarter valued at $129,000. Quest Partners LLC acquired a new stake in Disc Medicine during the 3rd quarter worth about $131,000. Finally, Quantbot Technologies LP purchased a new position in shares of Disc Medicine during the 3rd quarter valued at about $146,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.