Nantahala Capital Management LLC Sells 1,609 Shares of Disc Medicine, Inc. $IRON

Nantahala Capital Management LLC cut its stake in shares of Disc Medicine, Inc. (NASDAQ:IRON) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,391 shares of the company’s stock after selling 1,609 shares during the period. Nantahala Capital Management LLC’s holdings in Disc Medicine were worth $7,366,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IRON. Amalgamated Bank grew its position in 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 acquiring an additional 219 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Disc Medicine in the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd lifted its position in Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock worth $47,000 after buying an additional 940 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares during the period. Finally, Fiduciary Trust Co purchased a new stake in Disc Medicine in the fourth quarter worth $257,000. 83.70% of the stock is owned by institutional investors.

Disc Medicine Trading Down 0.0%

Shares of NASDAQ:IRON opened at $59.65 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. The company has a market cap of $2.07 billion, a P/E ratio of -13.34 and a beta of 0.77. Disc Medicine, Inc. has a 52-week low of $30.82 and a 52-week high of $68.73. The stock’s 50-day moving average is $57.76 and its 200-day moving average is $51.82.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.41). Equities research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Insider Activity

In related news, Director Kevin Bitterman sold 2,287 shares of Disc Medicine stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $61.03, for a total transaction of $139,575.61. Following the transaction, the director owned 590,621 shares of the company’s stock, valued at $36,045,599.63. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John D. Quisel sold 34,800 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $55.33, for a total value of $1,925,484.00. Following the sale, the chief executive officer directly owned 161,828 shares in the company, valued at $8,953,943.24. This trade represents a 17.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 135,909 shares of company stock worth $8,006,371 over the last quarter. 3.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial began coverage on Disc Medicine in a research report on Monday, July 21st. They set a “buy” rating and a $86.00 target price for the company. Morgan Stanley boosted their price objective on Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Wedbush restated an “outperform” rating and set a $90.00 price target on shares of Disc Medicine in a research note on Monday, July 21st. BMO Capital Markets increased their target price on Disc Medicine from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Finally, HC Wainwright restated a “buy” rating and set a $118.00 target price on shares of Disc Medicine in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $98.30.

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.