Disc Medicine (NASDAQ:IRON) Stock Price Down 3% – Time to Sell?

Disc Medicine, Inc. (NASDAQ:IRON) was down 3% during mid-day trading on Monday . The stock traded as low as $51.86 and last traded at $52.09. Approximately 20,173 shares traded hands during trading, a decline of 94% from the average daily volume of 347,387 shares. The stock had previously closed at $53.71.

Analyst Ratings Changes

A number of research firms have weighed in on IRON. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday. Raymond James initiated coverage on Disc Medicine in a research note on Wednesday, June 11th. They set a “strong-buy” rating and a $89.00 target price for the company. BMO Capital Markets raised their price objective 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 lifted their target price on shares of Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald raised their target price on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Ten research 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 has a consensus rating of “Buy” and a consensus price target of $96.70.

Disc Medicine Trading Down 2.6%

The company has a market capitalization of $1.81 billion, a P/E ratio of -13.15 and a beta of 0.73. The business has a 50 day moving average price of $45.86 and a 200 day moving average price of $53.19.

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

Insiders Place Their Bets

In related news, Director Mona Ashiya sold 5,738 shares of Disc Medicine stock in a transaction that occurred on Monday, March 24th. The stock was 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 of the company’s stock, valued at approximately $10,093,733.51. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William Jacob Savage sold 2,996 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 67,178 shares of company stock valued at $3,582,568 in the last 90 days. 4.24% of the stock is currently owned by insiders.

Institutional Trading of Disc Medicine

A number of institutional investors have recently bought and sold shares of IRON. Amalgamated Bank boosted 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 valued at $39,000 after buying an additional 219 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Teacher Retirement System of Texas increased its position 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 period. Sterling Capital Management LLC increased its position in shares of Disc Medicine by 798.4% in 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 during the period. Finally, Arizona State Retirement System raised its stake 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 purchasing an additional 590 shares in the last quarter. 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.