Disc Medicine, Inc. (NASDAQ:IRON) Director William Richard White Sells 7,136 Shares

Disc Medicine, Inc. (NASDAQ:IRON) Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

William Richard White also recently made the following trade(s):

• On Friday, November 1st, William Richard White sold 201 shares of Disc Medicine stock. The stock was sold at an average price of $46.37, for a total value of $9,320.37.
• On Tuesday, October 1st, William Richard White sold 201 shares of Disc Medicine stock. The stock was sold at an average price of $51.31, for a total value of $10,313.31.

Disc Medicine Price Performance

IRON traded up $6.53 on Tuesday, reaching $64.78. The company’s stock had a trading volume of 894,960 shares, compared to its average volume of 355,030. Disc Medicine, Inc. has a 1 year low of $25.60 and a 1 year high of $77.60. The business’s 50 day moving average is $48.75 and its 200 day moving average is $42.93. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -17.65 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.11) by $0.08. As a group, research analysts forecast that Disc Medicine, Inc. will post -4.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Disc Medicine by 96.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock valued at $281,000 after purchasing an additional 2,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Disc Medicine by 45.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares during the period. SG Americas Securities LLC grew its stake in Disc Medicine by 19.5% during the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after buying an additional 793 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Disc Medicine in the second quarter worth $636,000. Finally, Nantahala Capital Management LLC bought a new stake in Disc Medicine in the second quarter valued at $6,760,000. 83.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRON. Wedbush reissued an “outperform” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Disc Medicine in a research report on Monday. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $66.00 to $110.00 in a report on Monday. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Tuesday. Wells Fargo & Company started coverage on shares of Disc Medicine in a report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Disc Medicine presently has an average rating of “Buy” and a consensus target price of $80.20.

About Disc Medicine

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.