Disc Medicine (NASDAQ:IRON) Releases Quarterly Earnings Results

Disc Medicine (NASDAQ:IRON) released its quarterly earnings results on Thursday. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29), Zacks reports.

Disc Medicine Stock Performance

Disc Medicine stock traded down $3.15 during trading hours on Friday, hitting $83.85. 272,440 shares of the stock traded hands, compared to its average volume of 608,376. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm’s 50 day moving average price is $71.70 and its 200-day moving average price is $59.73. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -15.67 and a beta of 0.79. Disc Medicine has a 1 year low of $30.82 and a 1 year high of $95.95.

Analyst Ratings Changes

A number of equities research analysts recently commented on IRON shares. Morgan Stanley increased their target price on shares of Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Stifel Nicolaus began coverage on Disc Medicine in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 price target on the stock. Truist Financial started coverage on Disc Medicine in a research report on Monday, July 21st. They issued a “buy” rating and a $86.00 price objective for the company. Raymond James Financial boosted their target price on Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 17th. Finally, National Bankshares set a $153.00 price target on Disc Medicine in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.30.

Insider Activity

In related news, Director Kevin Bitterman sold 71,961 shares of Disc Medicine stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $70.58, for a total transaction of $5,079,007.38. Following the completion of the sale, the director owned 500,621 shares of the company’s stock, valued at $35,333,830.18. The trade was a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 218,046 shares of company stock valued at $16,463,375 in the last three months. Company insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of Disc Medicine by 383.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the company’s stock worth $211,000 after purchasing an additional 3,152 shares during the last quarter. First Trust Advisors LP acquired a new stake in Disc Medicine during the 2nd quarter worth about $543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Disc Medicine by 22.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after buying an additional 2,807 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Disc Medicine by 21.6% in the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after buying an additional 2,983 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Disc Medicine by 18.0% in the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after buying an additional 3,682 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.