Disc Medicine (NASDAQ:IRON) Shares Down 4.1%

Shares of Disc Medicine, Inc. (NASDAQ:IRON) fell 4.1% during trading on Friday . The company traded as low as $28.61 and last traded at $28.78. 46,547 shares were traded during trading, a decline of 89% from the average session volume of 415,544 shares. The stock had previously closed at $30.02.

Wall Street Analyst Weigh In

A number of research firms have commented on IRON. Stifel Nicolaus lifted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective (down from $84.00) on shares of Disc Medicine in a research report on Monday, April 1st. Raymond James reissued an “outperform” rating and issued a $40.00 target price (down previously from $75.00) on shares of Disc Medicine in a research report on Monday, April 1st. BMO Capital Markets reduced their target price on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, April 2nd. Finally, Morgan Stanley reduced their target price on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Disc Medicine has a consensus rating of “Moderate Buy” and an average target price of $57.29.

Disc Medicine Stock Performance

The business’s 50 day simple moving average is $55.78 and its 200-day simple moving average is $55.39.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, March 21st. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). Equities analysts predict that Disc Medicine, Inc. will post -4.44 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 102,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total transaction of $6,934,125.00. Following the completion of the transaction, the director now owns 198,326 shares in the company, valued at approximately $13,416,753.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director William Richard White sold 2,560 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total transaction of $81,408.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Bitterman sold 102,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $6,934,125.00. Following the sale, the director now directly owns 198,326 shares of the company’s stock, valued at approximately $13,416,753.90. The disclosure for this sale can be found here. Insiders sold a total of 152,560 shares of company stock worth $10,228,908 in the last quarter. 4.71% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Several large investors have recently modified their holdings of IRON. Adage Capital Partners GP L.L.C. grew its position in Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares during the period. Perceptive Advisors LLC lifted its stake in Disc Medicine by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock valued at $59,091,000 after acquiring an additional 127,404 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its stake in Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after acquiring an additional 130,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Disc Medicine by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock valued at $44,160,000 after acquiring an additional 99,092 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Disc Medicine by 280.4% during the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after purchasing an additional 480,082 shares during the period. 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.