Kevin Bitterman Sells 5,203 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 5,203 shares of Disc Medicine stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94. Following the completion of the transaction, the director owned 13,445 shares of the company’s stock, valued at $1,075,331.10. The trade was a 27.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The shares were sold at an average price of $80.17, for a total transaction of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Down 0.2%

IRON opened at $79.23 on Friday. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a market cap of $3.04 billion, a PE ratio of -12.04 and a beta of 0.97. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $77.76 and a 200 day moving average of $70.38.

Disc Medicine (NASDAQ:IRON) last issued its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. On average, sell-side analysts expect that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Analyst Upgrades and Downgrades

IRON has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $90.00 target price on shares of Disc Medicine in a report on Monday, August 17th. HC Wainwright raised their price objective on shares of Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Disc Medicine in a report on Tuesday. Finally, Wedbush upped their target price on shares of Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.70.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in shares of Disc Medicine by 8,273.0% during the second quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock worth $210,555,000 after purchasing an additional 2,844,408 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Disc Medicine during the 2nd quarter worth $180,502,000. JPMorgan Chase & Co. lifted its stake in Disc Medicine by 110.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after purchasing an additional 828,248 shares during the last quarter. BVF Inc. IL purchased a new position in shares of Disc Medicine in the 4th quarter worth about $51,616,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Disc Medicine during the 4th quarter valued at about $35,794,000. 83.70% of the stock is currently 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.