Disc Medicine’s (IRON) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Disc Medicine (NASDAQ:IRON) in a report released on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock.

IRON has been the subject of several other reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Disc Medicine in a report on Thursday. Morgan Stanley reissued an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Disc Medicine in a research report on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $128.00 price target on shares of Disc Medicine in a report on Thursday. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.55.

Disc Medicine Trading Down 5.5%

NASDAQ IRON opened at $70.06 on Thursday. Disc Medicine has a 12 month low of $40.00 and a 12 month high of $99.50. The stock has a market cap of $2.69 billion, a P/E ratio of -10.65 and a beta of 0.97. The stock’s fifty day moving average price is $77.80 and its 200-day moving average price is $70.84. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating the consensus estimate of ($1.71) by $0.17. As a group, equities analysts forecast that Disc Medicine will post -6.61 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other news, insider Rahul Khara sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the insider directly owned 52,324 shares of the company’s stock, valued at $4,185,920. This represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Yu sold 8,796 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the transaction, the chief operating officer owned 54,324 shares in the company, valued at approximately $4,515,410.88. This trade represents a 13.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 209,797 shares of company stock worth $15,934,791. Company insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Disc Medicine by 22.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after purchasing an additional 2,807 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after buying an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Disc Medicine by 3.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after buying an additional 3,454 shares during the period. Legal & General Group Plc grew its position in Disc Medicine by 18.0% during the second quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after buying an additional 3,682 shares during the period. Finally, Invesco Ltd. increased its holdings in Disc Medicine by 21.6% during the second quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after buying an additional 2,983 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.