Disc Medicine (NASDAQ:IRON) Sets New 12-Month High – What’s Next?

Disc Medicine, Inc. (NASDAQ:IRON)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $96.16 and last traded at $95.9950, with a volume of 69357 shares changing hands. The stock had previously closed at $92.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IRON shares. Stifel Nicolaus assumed coverage on Disc Medicine in a report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price target on the stock. Truist Financial increased their price target on Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Cantor Fitzgerald upped their price objective on Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Wedbush lifted their price target on shares of Disc Medicine from $90.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Raymond James Financial upped their target price on Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Disc Medicine presently has an average rating of “Moderate Buy” and an average target price of $119.10.

Disc Medicine Stock Performance

The company has a market cap of $3.55 billion, a P/E ratio of -17.60 and a beta of 0.79. The company has a 50 day moving average price of $77.29 and a 200-day moving average price of $62.77. The company has a quick ratio of 23.45, a current ratio of 23.45 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.48) by ($0.29). Equities analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 71,961 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $70.58, for a total value of $5,079,007.38. Following the completion of the sale, the director directly owned 500,621 shares of the company’s stock, valued at $35,333,830.18. This represents a 12.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total transaction of $2,541,000.00. Following the completion of the sale, the chief operating officer directly owned 40,555 shares in the company, valued at $3,435,008.50. This trade represents a 42.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 213,585 shares of company stock worth $16,898,513. Insiders own 3.64% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Disc Medicine during the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Disc Medicine by 13,428.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock valued at $47,000 after acquiring an additional 940 shares during the last quarter. CWM LLC raised its holdings in Disc Medicine by 213.5% in the second quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after purchasing an additional 711 shares during the period. Avanza Fonder AB acquired a new stake in Disc Medicine during the 2nd quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

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.