Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $1,251,434.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 19,820 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $63.14, for a total value of $1,251,434.80. Following the sale, the chief executive officer now owns 72,065 shares in the company, valued at $4,550,184.10. The trade was a 21.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Disc Medicine Price Performance

NASDAQ IRON opened at $64.12 on Friday. The business has a fifty day moving average price of $60.41 and a two-hundred day moving average price of $51.45. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The stock has a market capitalization of $1.91 billion, a PE ratio of -16.11 and a beta of 0.76.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share 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 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after acquiring an additional 235,115 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Disc Medicine in the 2nd quarter valued at $34,318,000. Verition Fund Management LLC bought a new position in shares of Disc Medicine in the 3rd quarter valued at $589,000. Frazier Life Sciences Management L.P. lifted its stake in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares during the last quarter. Finally, Blue Owl Capital Holdings LP lifted its stake in shares of Disc Medicine by 38.6% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock valued at $9,702,000 after acquiring an additional 60,000 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRON. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a research report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus boosted their price target on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $87.50.

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.