Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $844,333.91 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 12,791 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Disc Medicine Trading Down 2.3 %

IRON traded down $1.50 on Wednesday, hitting $63.50. The company had a trading volume of 327,848 shares, compared to its average volume of 347,116. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The firm has a market cap of $1.89 billion, a P/E ratio of -15.95 and a beta of 0.76. The company’s fifty day moving average price is $58.19 and its 200 day moving average price is $50.24.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Scotiabank upped their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $87.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Exome Asset Management LLC increased its stake in Disc Medicine by 5.8% during the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock worth $3,170,000 after purchasing an additional 3,516 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Disc Medicine by 38.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after purchasing an additional 5,458 shares in the last quarter. Geode Capital Management LLC increased its stake in Disc Medicine by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after buying an additional 70,983 shares during the period. Barclays PLC lifted its holdings in Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after buying an additional 22,202 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Disc Medicine in the 3rd quarter valued at approximately $445,000. 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.