Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, an increase of 6.6% from the December 15th total of 1,660,000 shares. Based on an average trading volume of 316,200 shares, the short-interest ratio is currently 5.6 days. Currently, 11.3% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, CEO John D. Quisel sold 19,820 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $63.14, for a total value of $1,251,434.80. Following the transaction, the chief executive officer now owns 72,065 shares of the company’s stock, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total transaction of $418,240.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,758 shares of company stock valued at $5,400,990. Insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IRON. Amalgamated Bank raised its position in 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 buying an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 purchasing an additional 337 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Disc Medicine in the third quarter worth $131,000. Quantbot Technologies LP bought a new position in Disc Medicine in the third quarter valued at $146,000. Finally, Intech Investment Management LLC acquired a new stake in Disc Medicine in the 3rd quarter valued at $228,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Stock Down 2.9 %

Disc Medicine stock opened at $58.24 on Monday. The company has a 50 day moving average of $63.05 and a 200-day moving average of $53.47. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a market capitalization of $1.73 billion, a PE ratio of -14.63 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. Equities analysts anticipate that Disc Medicine will post -4.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research report on Monday, December 9th. Jefferies Financial Group started coverage on Disc Medicine in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised shares of 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 company’s stock. According to data from MarketBeat, Disc Medicine presently has an average rating of “Buy” and an average target price of $87.50.

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.