Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $171,217.46 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Pamela Stephenson sold 3,137 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total value of $171,217.46. Following the completion of the sale, the insider now owns 69,529 shares of the company’s stock, valued at $3,794,892.82. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Disc Medicine Stock Down 0.2 %

Disc Medicine stock traded down $0.11 during trading hours on Thursday, reaching $54.35. 369,811 shares of the company’s stock were exchanged, compared to its average volume of 402,546. The firm’s 50 day simple moving average is $59.46 and its 200 day simple moving average is $55.02. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60. The firm has a market capitalization of $1.62 billion, a PE ratio of -13.66 and a beta of 0.73.

Institutional Trading of Disc Medicine

Several large investors have recently made changes to their positions in IRON. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after buying an additional 337 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Disc Medicine by 96.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after acquiring an additional 2,813 shares in the last quarter. Quest Partners LLC bought a new position in Disc Medicine in the 3rd quarter valued at about $131,000. Intech Investment Management LLC bought a new position in shares of Disc Medicine during the 3rd quarter worth approximately $228,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Disc Medicine by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after buying an additional 19,401 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRON. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday, January 21st. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $110.00 in a report on Monday, November 4th. Scotiabank increased their price objective on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. Finally, Stifel Nicolaus increased their price objective on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.