Disc Medicine (NASDAQ:IRON) Director Kevin Bitterman Sells 70,000 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 70,000 shares of the company’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $88.91, for a total value of $6,223,700.00. Following the transaction, the director directly owned 385,549 shares in the company, valued at approximately $34,279,161.59. This represents a 15.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, October 16th, Kevin Bitterman sold 1,425 shares of Disc Medicine stock. The stock was sold at an average price of $77.11, for a total value of $109,881.75.
• On Wednesday, October 15th, Kevin Bitterman sold 22,160 shares of Disc Medicine stock. The shares were sold at an average price of $77.23, for a total value of $1,711,416.80.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38.
• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The shares were sold at an average price of $68.38, for a total value of $1,233,506.82.
• On Friday, August 22nd, Kevin Bitterman sold 2,287 shares of Disc Medicine stock. The shares were sold at an average price of $61.03, for a total value of $139,575.61.
• On Thursday, August 14th, Kevin Bitterman sold 7,212 shares of Disc Medicine stock. The shares were sold at an average price of $60.99, for a total value of $439,859.88.
• On Wednesday, August 13th, Kevin Bitterman sold 24,962 shares of Disc Medicine stock. The shares were sold at an average price of $61.15, for a total value of $1,526,426.30.
• On Tuesday, August 5th, Kevin Bitterman sold 395 shares of Disc Medicine stock. The shares were sold at an average price of $60.95, for a total value of $24,075.25.
• On Wednesday, July 30th, Kevin Bitterman sold 8,492 shares of Disc Medicine stock. The shares were sold at an average price of $61.04, for a total value of $518,351.68.
• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The shares were sold at an average price of $61.17, for a total value of $797,228.61.

Disc Medicine Price Performance

IRON opened at $89.94 on Friday. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. Disc Medicine, Inc. has a 12 month low of $30.82 and a 12 month high of $95.95. The company has a fifty day simple moving average of $63.69 and a 200 day simple moving average of $54.72. The stock has a market cap of $3.13 billion, a P/E ratio of -20.12 and a beta of 0.80.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.41). On average, research analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

A number of large investors have recently added to or reduced their stakes in IRON. RA Capital Management L.P. acquired a new position in shares of Disc Medicine during the 1st quarter worth about $78,288,000. Siren L.L.C. acquired a new position in shares of Disc Medicine during the 1st quarter worth about $53,207,000. Wellington Management Group LLP boosted its stake in shares of Disc Medicine by 67.9% during the 1st quarter. Wellington Management Group LLP now owns 2,343,499 shares of the company’s stock worth $116,331,000 after buying an additional 948,094 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Disc Medicine by 22.2% during the 1st quarter. Vanguard Group Inc. now owns 1,305,046 shares of the company’s stock worth $64,782,000 after buying an additional 236,800 shares during the last quarter. Finally, Sio Capital Management LLC boosted its stake in shares of Disc Medicine by 287.4% during the 2nd quarter. Sio Capital Management LLC now owns 284,787 shares of the company’s stock worth $15,082,000 after buying an additional 211,276 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on IRON shares. HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research report on Thursday, July 3rd. Raymond James Financial upped their price objective on shares of Disc Medicine from $89.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Friday. Truist Financial started coverage on shares of Disc Medicine in a research report on Monday, July 21st. They issued a “buy” rating and a $86.00 price objective for the company. Morgan Stanley increased their target price on Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Cantor Fitzgerald increased their target price on Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.73.

About Disc Medicine

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.