Kevin Bitterman Sells 129 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 129 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $79.95, for a total transaction of $10,313.55. Following the completion of the sale, the director directly owned 14,012 shares of the company’s stock, valued at $1,120,259.40. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total value of $3,941,477.88.

Disc Medicine Stock Down 0.8%

Shares of IRON traded down $0.68 during trading hours on Thursday, reaching $79.37. The company’s stock had a trading volume of 501,017 shares, compared to its average volume of 568,092. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. 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 firm has a market cap of $3.05 billion, a price-to-earnings ratio of -12.06 and a beta of 0.98. The company has a 50 day moving average of $77.49 and a two-hundred day moving average of $70.15.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.17. As a group, research analysts predict that Disc Medicine, Inc. will post -6.61 EPS for the current fiscal year.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. Arizona State Retirement System increased its holdings in shares of Disc Medicine by 2.2% during the 4th quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock worth $540,000 after purchasing an additional 144 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock worth $533,000 after buying an additional 215 shares in the last quarter. AlphaCentric Advisors LLC increased its stake in Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock valued at $254,000 after acquiring an additional 216 shares during the period. Kennedy Capital Management LLC raised its holdings in Disc Medicine by 3.3% in the 4th quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock valued at $740,000 after acquiring an additional 296 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Disc Medicine in the 2nd quarter worth approximately $25,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IRON. Wedbush lifted their price target on shares of Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday. HC Wainwright raised their target price on shares of Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating and issued a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.70.

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.