Disc Medicine (NASDAQ:IRON) Director Sells $1,902,504.96 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 27,136 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $70.11, for a total value of $1,902,504.96. Following the transaction, the director directly owned 7,136 shares of the company’s stock, valued at approximately $500,304.96. This trade represents a 79.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The stock was sold at an average price of $79.96, for a total value of $135,052.44.
• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The shares were 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 shares were sold at an average price of $80.17, for a total value of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total value of $10,313.55.

Disc Medicine Trading Up 0.9%

Shares of IRON opened at $69.18 on Friday. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The business has a 50-day moving average of $76.96 and a 200 day moving average of $70.94. The firm has a market cap of $264.96 million, a P/E ratio of -10.51 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14.

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

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Disc Medicine in the 2nd quarter valued at $1,350,000. NEXTBio Capital Management LP bought a new position in shares of Disc Medicine in the fourth quarter worth $3,397,000. DNB Asset Management AS increased its holdings in shares of Disc Medicine by 1,425.8% in the fourth quarter. DNB Asset Management AS now owns 84,255 shares of the company’s stock worth $6,691,000 after purchasing an additional 78,733 shares during the period. Eagle Health Investments LP purchased a new stake in shares of Disc Medicine in the fourth quarter worth $2,152,000. Finally, BlackRock Inc. purchased a new stake in shares of Disc Medicine in the second quarter worth $180,502,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Disc Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Morgan Stanley reissued an “overweight” rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. Wells Fargo & Company increased their target price on Disc Medicine from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $128.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.18.

Disc Medicine Company Profile

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.