Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $2,047,389.37 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 25,519 shares of the firm’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $80.23, for a total value of $2,047,389.37. Following the transaction, the director owned 12,991 shares in the company, valued at approximately $1,042,267.93. This trade represents a 66.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, October 20th, Kevin Bitterman sold 5,312 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total value of $424,694.40.
• On Monday, October 19th, Kevin Bitterman sold 10,994 shares of Disc Medicine stock. The stock was sold at an average price of $79.97, for a total transaction of $879,190.18.
• On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96.
• 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 stock was sold at an average price of $79.98, for a total transaction 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 transaction 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 transaction of $10,313.55.

Disc Medicine Price Performance

NASDAQ IRON opened at $74.51 on Friday. The business has a 50 day simple moving average of $71.25 and a 200 day simple moving average of $71.56. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -11.32 and a beta of 0.93. 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, Inc. has a 52-week low of $40.00 and a 52-week high of $99.50.

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

Hedge Funds Weigh In On Disc Medicine

Several hedge funds and other institutional investors have recently modified their holdings of IRON. Arizona State Retirement System increased its position in shares of Disc Medicine by 2.4% during the second quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock valued at $501,000 after acquiring an additional 160 shares during the last quarter. AlphaCentric Advisors LLC grew its position in shares of Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after buying an additional 216 shares in the last quarter. State of Wyoming purchased a new position in shares of Disc Medicine in the 2nd quarter valued at about $25,000. Entropy Technologies LP boosted its stake in Disc Medicine by 9.9% in the first quarter. Entropy Technologies LP now owns 4,788 shares of the company’s stock valued at $306,000 after acquiring an additional 431 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Disc Medicine during the second quarter worth about $46,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IRON has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Disc Medicine in a research report on Thursday, September 10th. Morgan Stanley boosted their target price on Disc Medicine from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Tuesday. Cantor Fitzgerald lifted their target price on Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Thursday, October 15th. Finally, Wedbush raised their price objective on shares of Disc Medicine from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Eleven investment 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 data from MarketBeat, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $122.70.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.