Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $879,190.18 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 10,994 shares of the firm’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $79.97, for a total value of $879,190.18. Following the completion of the transaction, the director owned 13,312 shares of the company’s stock, valued at $1,064,560.64. This trade represents a 45.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, October 21st, Kevin Bitterman sold 25,519 shares of Disc Medicine stock. The stock was sold at an average price of $80.23, for a total transaction of $2,047,389.37.
• On Tuesday, October 20th, Kevin Bitterman sold 5,312 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $424,694.40.
• On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96.
• On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The shares were sold at an average price of $79.96, for a total value of $135,052.44.
• 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 value 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.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total value of $10,313.55.

Disc Medicine Price Performance

NASDAQ IRON opened at $74.51 on Friday. The business’s fifty day moving average is $71.25 and its two-hundred day moving average is $71.56. The stock has a market capitalization of $2.86 billion, a P/E ratio of -11.32 and a beta of 0.93. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on IRON. Wells Fargo & Company raised their price objective on Disc Medicine from $86.00 to $124.00 and gave the company an “overweight” rating in a research report on Tuesday. BMO Capital Markets upped their price objective on Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley increased their price objective on shares of Disc Medicine from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald increased their target price on shares of Disc Medicine from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 19th. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 target price on shares of Disc Medicine in a report on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.70.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in shares of Disc Medicine in the second quarter worth about $1,350,000. Bank of America Corp DE bought a new position in shares of Disc Medicine during the 2nd quarter worth $9,882,000. Squarepoint Ops LLC lifted its holdings in Disc Medicine by 139.3% during the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock worth $5,549,000 after buying an additional 44,163 shares during the period. Opaleye Management Inc. boosted its holdings in shares of Disc Medicine by 103.1% in the 2nd quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after buying an additional 434,000 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Disc Medicine in the second quarter worth about $180,502,000. Institutional investors own 83.70% of the company’s stock.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.