Disc Medicine (NASDAQ:IRON) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Disc Medicine (NASDAQ:IRON) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued reports about the company. Wells Fargo & Company increased their price target on Disc Medicine from $79.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 16th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Thursday. Morgan Stanley restated an “overweight” rating and set a $90.00 price objective on shares of Disc Medicine in a research note on Monday, August 17th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Disc Medicine in a research note on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.90.

Disc Medicine Price Performance

IRON opened at $56.84 on Friday. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $71.55 and its 200 day moving average price is $71.11. Disc Medicine has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The firm has a market cap of $217.70 million, a price-to-earnings ratio of -8.64 and a beta of 0.93.

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

Insider Buying and Selling at Disc Medicine

In other news, COO Jonathan Yu sold 8,796 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total transaction of $731,123.52. Following the completion of the sale, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $4,515,410.88. This represents a 13.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin Bitterman sold 27,136 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $70.11, for a total transaction of $1,902,504.96. Following the sale, the director directly owned 7,136 shares of the company’s stock, valued at $500,304.96. This represents a 79.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 131,221 shares of company stock valued at $10,239,760 over the last 90 days. Insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently bought and sold shares of IRON. Legal & General Group Plc acquired a new position in shares of Disc Medicine in the second quarter worth $1,350,000. Bank of America Corp DE purchased a new stake in shares of Disc Medicine during the second quarter worth $9,882,000. Opaleye Management Inc. raised its holdings in shares of Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Squarepoint Ops LLC boosted its position in Disc Medicine by 139.3% during the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock valued at $5,549,000 after purchasing an additional 44,163 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in Disc Medicine during the second quarter valued at $180,502,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.