Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $304,228.92 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 5,574 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $54.58, for a total value of $304,228.92. Following the transaction, the chief executive officer now owns 154,828 shares in the company, valued at $8,450,512.24. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $54.52 on Friday. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The business’s fifty day moving average price is $59.05 and its two-hundred day moving average price is $55.19. The company has a market capitalization of $1.62 billion, a P/E ratio of -13.70 and a beta of 0.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IRON shares. Scotiabank raised their price target on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, January 22nd. Stifel Nicolaus raised their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, January 24th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Wedbush reissued an “outperform” rating and issued a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $88.90.

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in Disc Medicine by 358.7% during the 4th quarter. FMR LLC now owns 1,866,248 shares of the company’s stock valued at $118,320,000 after buying an additional 1,459,434 shares during the period. Janus Henderson Group PLC increased its stake in shares of Disc Medicine by 62.4% during the fourth quarter. Janus Henderson Group PLC now owns 1,217,815 shares of the company’s stock valued at $77,170,000 after acquiring an additional 467,988 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Disc Medicine by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,637 shares of the company’s stock worth $88,421,000 after purchasing an additional 262,690 shares in the last quarter. State Street Corp raised its holdings in Disc Medicine by 39.7% during the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Disc Medicine in the fourth quarter worth approximately $5,579,000. 83.70% of the stock is currently owned by institutional investors.

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.