Disc Medicine (NASDAQ:IRON) Posts Earnings Results, Misses Expectations By $0.03 EPS

Disc Medicine (NASDAQ:IRON) announced its quarterly earnings results on Tuesday. The company reported ($1.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03), FiscalAI reports.

Disc Medicine Trading Down 0.9%

IRON stock traded down $0.58 during mid-day trading on Tuesday, reaching $67.06. The company’s stock had a trading volume of 38,847 shares, compared to its average volume of 608,015. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -11.29 and a beta of 0.93. The business’s 50 day moving average price is $64.79 and its 200 day moving average price is $76.19. The company has a current ratio of 21.94, a quick ratio of 21.94 and a debt-to-equity ratio of 0.04. Disc Medicine has a 12 month low of $40.00 and a 12 month high of $99.50.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IRON. Stifel Nicolaus cut their price target on Disc Medicine from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Wedbush cut their price target on Disc Medicine from $110.00 to $88.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company lifted their price target on Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. BMO Capital Markets cut their price target on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Disc Medicine in a research note on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.80.

Insider Activity

In other news, insider Pamela Stephenson sold 5,531 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $347,678.66. Following the completion of the sale, the insider owned 80,998 shares in the company, valued at $5,091,534.28. The trade was a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 3,231 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $62.86, for a total value of $203,100.66. Following the sale, the chief operating officer owned 54,324 shares of the company’s stock, valued at approximately $3,414,806.64. This represents a 5.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 59,410 shares of company stock valued at $3,840,013. Corporate insiders own 3.64% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd bought a new stake in shares of Disc Medicine during the fourth quarter valued at approximately $141,000. Russell Investments Group Ltd. increased its holdings in shares of Disc Medicine by 15,137.5% during the third quarter. Russell Investments Group Ltd. now owns 2,438 shares of the company’s stock valued at $161,000 after acquiring an additional 2,422 shares in the last quarter. Virtus Investment Advisers LLC increased its holdings in shares of Disc Medicine by 34.2% during the fourth quarter. Virtus Investment Advisers LLC now owns 2,897 shares of the company’s stock valued at $230,000 after acquiring an additional 739 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Disc Medicine during the fourth quarter valued at approximately $298,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Disc Medicine by 383.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the company’s stock valued at $211,000 after acquiring an additional 3,152 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

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.