Kevin Bitterman Sells 129 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 129 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $79.95, for a total value of $10,313.55. Following the sale, the director owned 14,012 shares in the company, valued at $1,120,259.40. The trade was a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.

Disc Medicine Price Performance

Shares of Disc Medicine stock opened at $79.23 on Friday. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.04 billion, a PE ratio of -12.04 and a beta of 0.97. The business’s 50-day moving average price is $77.76 and its 200-day moving average price is $70.38. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Sell-side analysts forecast that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IRON. HC Wainwright boosted their price objective on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a research report on Tuesday. Wall Street Zen downgraded shares of Disc Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.70.

Institutional Trading of Disc Medicine

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its holdings in shares of Disc Medicine by 8,273.0% in the second quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock worth $210,555,000 after purchasing an additional 2,844,408 shares during the last quarter. BlackRock Inc. bought a new stake in Disc Medicine in the 2nd quarter worth $180,502,000. RA Capital Management L.P. grew its stake in shares of Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after purchasing an additional 399,026 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Disc Medicine by 22.1% in the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock worth $140,371,000 after buying an additional 319,621 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Disc Medicine by 0.3% in the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock valued at $127,362,000 after acquiring an additional 5,975 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.