Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) CFO Sells $171,162.88 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CFO Jean M. Franchi sold 3,136 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,162.88. Following the sale, the chief financial officer now owns 69,530 shares of the company’s stock, valued at $3,794,947.40. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Disc Medicine Stock Performance

NASDAQ:IRON opened at $54.52 on Friday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -13.70 and a beta of 0.73. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The stock has a 50-day simple moving average of $59.05 and a 200 day simple moving average of $55.19.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of IRON. Sterling Capital Management LLC boosted its stake in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after acquiring an additional 503 shares during the period. GF Fund Management CO. LTD. acquired a new position in Disc Medicine in the fourth quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its stake in Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after acquiring an additional 337 shares during the period. Finally, Quest Partners LLC acquired a new position in Disc Medicine in the third quarter valued at approximately $131,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IRON shares. Wedbush restated an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. HC Wainwright restated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank raised their target price on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Wednesday, January 22nd. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Finally, Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $88.90.

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.