Disc Medicine (NASDAQ:IRON) Price Target Cut to $78.00 by Analysts at Wells Fargo & Company

Disc Medicine (NASDAQ:IRON) had its price objective reduced by equities research analysts at Wells Fargo & Company from $109.00 to $78.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 30.37% from the company’s current price.

Several other equities research analysts have also recently commented on IRON. Stifel Nicolaus began coverage on shares of Disc Medicine in a research report on Monday, November 3rd. They issued a “buy” rating and a $125.00 target price for the company. BMO Capital Markets lowered their price objective on shares of Disc Medicine from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley reiterated an “overweight” rating and set a $120.00 target price on shares of Disc Medicine in a report on Thursday, January 8th. Raymond James Financial restated a “market perform” rating on shares of Disc Medicine in a research note on Thursday, January 15th. Finally, Wedbush reduced 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. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $112.82.

Disc Medicine Trading Up 6.9%

NASDAQ:IRON opened at $59.83 on Tuesday. The firm has a market capitalization of $2.26 billion, a P/E ratio of -11.18 and a beta of 0.88. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $78.93 and a 200 day moving average of $75.24. Disc Medicine has a 52 week low of $30.82 and a 52 week high of $99.50.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 68,923 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $91.24, for a total transaction of $6,288,534.52. Following the completion of the sale, the director directly owned 14,161 shares of the company’s stock, valued at $1,292,049.64. This trade represents a 82.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John D. Quisel sold 40,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $93.05, for a total transaction of $3,722,000.00. Following the completion of the transaction, the chief executive officer directly owned 171,828 shares in the company, valued at $15,988,595.40. This trade represents a 18.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 245,470 shares of company stock valued at $22,425,170. 3.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Disc Medicine

Several large investors have recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new stake in shares of Disc Medicine in the fourth quarter worth about $4,623,000. Persistent Asset Partners Ltd bought a new stake in Disc Medicine in the 4th quarter worth approximately $141,000. Squarepoint Ops LLC raised its holdings in shares of Disc Medicine by 193.0% during the 4th quarter. Squarepoint Ops LLC now owns 15,754 shares of the company’s stock worth $1,251,000 after acquiring an additional 10,377 shares in the last quarter. Sofinnova Investments Inc. boosted its position in shares of Disc Medicine by 719.1% during the 4th quarter. Sofinnova Investments Inc. now owns 111,010 shares of the company’s stock valued at $8,815,000 after acquiring an additional 97,457 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Disc Medicine by 936.0% during the 4th quarter. Verition Fund Management LLC now owns 63,535 shares of the company’s stock valued at $5,045,000 after acquiring an additional 57,402 shares during the last quarter. 83.70% of the stock is owned by institutional investors.

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.