Disc Medicine (NASDAQ:IRON) Shares Up 6% – Here’s What Happened

Disc Medicine, Inc. (NASDAQ:IRON)’s share price shot up 6% during mid-day trading on Tuesday . The company traded as high as $81.19 and last traded at $81.6540. 283,034 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 620,642 shares. The stock had previously closed at $77.01.

Analyst Upgrades and Downgrades

IRON has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Morgan Stanley lifted their target price on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Wedbush restated an “outperform” rating and set a $88.00 price target on shares of Disc Medicine in a research report on Wednesday, June 10th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.44.

Disc Medicine Price Performance

The stock has a market cap of $3.11 billion, a PE ratio of -12.35 and a beta of 0.97. The stock’s fifty day moving average is $69.53 and its 200-day moving average is $70.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.62) by ($0.03). As a group, equities analysts anticipate that Disc Medicine, Inc. will post -6.74 EPS for the current year.

Insider Transactions at Disc Medicine

In related news, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total value of $2,387,140.00. Following the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at approximately $15,871,953.44. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jean M. Franchi sold 6,257 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $69.24, for a total value of $433,234.68. Following the sale, the chief financial officer directly owned 64,333 shares of the company’s stock, valued at approximately $4,454,416.92. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 85,000 shares of company stock valued at $5,956,865 in the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Several institutional investors and hedge funds have recently bought and sold shares of IRON. ANTIPODES PARTNERS Ltd purchased a new position in Disc Medicine during the fourth quarter worth about $33,000. KBC Group NV purchased a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $80,000. Persistent Asset Partners Ltd purchased a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $141,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 36.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after acquiring an additional 490 shares during the last quarter. Finally, Avanza Fonder AB lifted its holdings in shares of Disc Medicine by 14.1% in the 4th quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock worth $151,000 after acquiring an additional 235 shares during the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.