William Jacob Savage Sells 9,158 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 9,158 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now owns 40,405 shares of the company’s stock, valued at $2,409,754.20. The trade was a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Disc Medicine Trading Up 3.8 %

Shares of Disc Medicine stock traded up $2.20 during midday trading on Tuesday, hitting $59.55. The company had a trading volume of 284,893 shares, compared to its average volume of 354,796. Disc Medicine, Inc. has a 1-year low of $25.60 and a 1-year high of $77.60. The business’s 50 day simple moving average is $51.31 and its two-hundred day simple moving average is $45.40.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HC Wainwright raised their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Scotiabank boosted their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Wells Fargo & Company assumed coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $85.80.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank grew its holdings in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine during the second quarter worth $129,000. Quest Partners LLC bought a new stake in Disc Medicine in the 3rd quarter valued at $131,000. Finally, Quantbot Technologies LP acquired a new position in shares of Disc Medicine in the 3rd quarter valued at $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.