William Jacob Savage Sells 2,996 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 2,996 shares of Disc Medicine stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $50.00, for a total transaction of $149,800.00. Following the completion of the transaction, the insider now directly owns 56,725 shares in the company, valued at $2,836,250. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

William Jacob Savage also recently made the following trade(s):

• On Tuesday, May 20th, William Jacob Savage sold 6,677 shares of Disc Medicine stock. The shares were sold at an average price of $50.04, for a total transaction of $334,117.08.
• On Friday, May 2nd, William Jacob Savage sold 2,100 shares of Disc Medicine stock. The shares were sold at an average price of $50.17, for a total transaction of $105,357.00.

Disc Medicine Price Performance

Shares of Disc Medicine stock traded up $1.40 during trading on Monday, hitting $51.42. The company’s stock had a trading volume of 639,814 shares, compared to its average volume of 348,126. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $68.73. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -12.92 and a beta of 0.73. The stock has a 50-day moving average price of $44.86 and a two-hundred day moving average price of $53.51.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.03). On average, equities analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IRON has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Friday, March 7th. BMO Capital Markets boosted their target price on shares of Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. 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 research note on Monday, March 3rd. Finally, Cantor Fitzgerald boosted their target price on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note 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. According to data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $98.80.

Institutional Trading of Disc Medicine

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank grew its stake in shares of Disc Medicine by 38.6% in the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock worth $39,000 after purchasing an additional 219 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Disc Medicine by 8.9% in the fourth quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock worth $308,000 after purchasing an additional 396 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Disc Medicine by 798.4% in the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after buying an additional 503 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock valued at $264,000 after buying an additional 590 shares during the period. 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.