Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 202,146 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 202,146 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $54.29, for a total value of $10,974,506.34. Following the completion of the transaction, the director now owns 208,742 shares of the company’s stock, valued at $11,332,603.18. The trade was a 49.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mona Ashiya also recently made the following trade(s):

• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The stock was sold at an average price of $54.45, for a total value of $4,529,259.90.

Disc Medicine Stock Up 0.1 %

Shares of NASDAQ IRON traded up $0.04 during midday trading on Wednesday, reaching $53.93. The company had a trading volume of 539,617 shares, compared to its average volume of 361,162. The stock has a market cap of $1.86 billion, a PE ratio of -13.55 and a beta of 0.73. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $68.86. The firm’s fifty day moving average price is $56.62 and its 200-day moving average price is $55.94.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. As a group, equities research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IRON. TD Cowen began coverage on Disc Medicine in a research note on Thursday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus lifted their target price on shares of Disc Medicine from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Scotiabank boosted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $89.10.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently modified their holdings of IRON. Geode Capital Management LLC grew its position in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares during the period. State Street Corp grew its holdings in shares of Disc Medicine by 39.7% in the third quarter. State Street Corp now owns 827,910 shares of the company’s stock worth $40,683,000 after acquiring an additional 235,115 shares during the period. Verition Fund Management LLC bought a new position in Disc Medicine in the third quarter valued at about $589,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company’s stock worth $7,890,000 after purchasing an additional 19,401 shares during the period. Finally, Barclays PLC raised its position in Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after acquiring an additional 22,202 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.