Disc Medicine (NASDAQ:IRON) Shares Up 9.3% – Should You Buy?

Disc Medicine, Inc. (NASDAQ:IRON)’s share price traded up 9.3% during trading on Friday . The stock traded as high as $38.16 and last traded at $38.51. 210,084 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 345,344 shares. The stock had previously closed at $35.23.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a research note on Tuesday, January 21st. Scotiabank upped their price objective on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. TD Cowen began coverage on Disc Medicine in a research report on Thursday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus lifted their price target on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Cantor Fitzgerald lifted their price objective on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Disc Medicine currently has an average rating of “Buy” and an average price target of $93.80.

Disc Medicine Price Performance

The stock’s fifty day moving average is $51.20 and its 200-day moving average is $55.58. The stock has a market cap of $1.34 billion, a PE ratio of -9.73 and a beta of 0.77.

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, topping analysts’ consensus estimates of ($1.06) by $0.08. On average, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $55.54, for a total transaction of $416,550.00. Following the completion of the sale, the insider now directly owns 14,035 shares in the company, valued at $779,503.90. This trade represents a 34.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mona Ashiya sold 5,738 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $54.11, for a total transaction of $310,483.18. Following the completion of the sale, the director now directly owns 186,541 shares in the company, valued at $10,093,733.51. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 361,690 shares of company stock worth $19,648,094 over the last quarter. 4.24% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Several institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its stake in 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 purchasing an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Disc Medicine during the 4th quarter worth about $40,000. Tower Research Capital LLC TRC boosted its holdings 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 period. KLP Kapitalforvaltning AS acquired a new position in Disc Medicine in the 4th quarter valued at about $235,000. Finally, Fiduciary Trust Co purchased a new stake in Disc Medicine during the fourth quarter worth about $257,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.