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

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a growth of 6.4% from the January 15th total of 2,040,000 shares. Approximately 12.1% of the company’s shares are sold short. Based on an average trading volume of 336,500 shares, the short-interest ratio is currently 6.4 days.

Insider Buying and Selling

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was 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 directly owns 72,065 shares in the company, valued at $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at approximately $779,503.90. This trade represents a 34.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,763 shares of company stock valued at $4,843,795. Insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Sterling Capital Management LLC grew its position in shares of Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Disc Medicine by 47.6% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Disc Medicine by 45.7% during the 3rd 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 last quarter. Quest Partners LLC acquired a new position in Disc Medicine during the 3rd quarter worth $131,000. Finally, Quantbot Technologies LP bought a new stake in shares of Disc Medicine in the 3rd quarter worth about $146,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Price Performance

Shares of NASDAQ:IRON remained flat at $54.10 during trading on Monday. The company had a trading volume of 190,095 shares, compared to its average volume of 480,000. The stock has a market capitalization of $1.61 billion, a P/E ratio of -13.59 and a beta of 0.73. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm’s fifty day simple moving average is $59.95 and its 200-day simple moving average is $54.94.

Analysts Set New Price Targets

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

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.