Disc Medicine (NASDAQ:IRON) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Disc Medicine (NASDAQ:IRON) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other analysts have also issued research reports about the company. Morgan Stanley reissued an “overweight” rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a research report on Wednesday, June 10th. Finally, HC Wainwright lifted their price objective on Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. 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. According to data from MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $106.50.

Disc Medicine Trading Down 3.1%

NASDAQ:IRON opened at $80.03 on Friday. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -12.16 and a beta of 1.00. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average price is $76.98 and its 200-day moving average price is $70.04. Disc Medicine has a 52 week low of $40.00 and a 52 week high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.17. On average, equities research analysts forecast that Disc Medicine will post -6.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total value of $2,387,140.00. Following the completion of the sale, the chief executive officer directly owned 226,064 shares in the company, valued at $15,871,953.44. This represents a 13.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Jonathan Yen-Wen Yu sold 18,612 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total value of $1,287,764.28. Following the completion of the transaction, the chief operating officer directly owned 54,324 shares in the company, valued at approximately $3,758,677.56. This represents a 25.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 153,612 shares of company stock worth $11,431,811. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the stock. NEXTBio Capital Management LP purchased a new stake in Disc Medicine in the 4th quarter worth approximately $3,397,000. DNB Asset Management AS lifted its holdings in Disc Medicine by 1,425.8% during the fourth quarter. DNB Asset Management AS now owns 84,255 shares of the company’s stock valued at $6,691,000 after purchasing an additional 78,733 shares in the last quarter. Eagle Health Investments LP purchased a new position in Disc Medicine during the fourth quarter valued at approximately $2,152,000. Vanguard Group Inc. boosted its position in shares of Disc Medicine by 22.1% in the fourth quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock worth $140,371,000 after purchasing an additional 319,621 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Disc Medicine in the fourth quarter worth approximately $42,252,000. Institutional investors own 83.70% of the company’s stock.

About Disc Medicine

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.