Insider Selling: Disc Medicine (NASDAQ:IRON) Insider Sells 7,500 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $70.22, for a total transaction of $526,650.00. Following the completion of the transaction, the insider owned 52,173 shares in the company, valued at approximately $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Disc Medicine Trading Down 0.5%

Shares of NASDAQ IRON traded down $0.35 during midday trading on Tuesday, reaching $70.45. 537,249 shares of the stock were exchanged, compared to its average volume of 585,545. The company has a market capitalization of $2.69 billion, a P/E ratio of -10.64 and a beta of 0.93. Disc Medicine, Inc. has a 52-week low of $40.00 and a 52-week high of $99.50. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $68.68 and a 200-day moving average price of $71.50.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). Equities research analysts expect that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd acquired a new position in shares of Disc Medicine in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Disc Medicine during the 3rd quarter worth $38,000. KBC Group NV acquired a new stake in shares of Disc Medicine during the 4th quarter worth $80,000. Persistent Asset Partners Ltd purchased a new position in shares of Disc Medicine in the 4th quarter worth $141,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Disc Medicine by 36.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock worth $146,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

IRON has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Wall Street Zen raised Disc Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Wells Fargo & Company upped their target price on Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Wedbush reiterated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, Morgan Stanley raised their price target on Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.80.

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.