Disc Medicine (NASDAQ:IRON) Insider Sells $526,650.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider owned 52,173 shares in the company, valued at approximately $3,663,588.06. This represents a 12.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Disc Medicine Price Performance

Shares of NASDAQ IRON opened at $70.16 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of -10.60 and a beta of 0.93. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 24.00 and a current ratio of 24.00. The stock has a fifty day moving average of $68.79 and a 200-day moving average of $71.02.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). Equities research analysts anticipate that Disc Medicine, Inc. will post -6.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRON. Wells Fargo & Company increased their price target on shares of Disc Medicine from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley boosted their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Wall Street Zen raised shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Finally, Wedbush reissued an “outperform” rating and issued a $88.00 price target on shares of Disc Medicine in a report on Wednesday, June 10th. Ten 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.80.

Institutional Trading of Disc Medicine

A number of hedge funds have recently made changes to their positions in IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Disc Medicine by 22.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after acquiring an additional 2,807 shares in the last quarter. Millennium Management LLC lifted its stake in Disc Medicine by 1,277.1% during the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $4,793,000 after purchasing an additional 3,454 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Disc Medicine by 18.0% in the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock worth $1,276,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Disc Medicine by 21.6% in the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock worth $891,000 after purchasing an additional 2,983 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

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.