Insider Selling: Disc Medicine (NASDAQ:IRON) CEO Sells $2,387,140.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John Quisel sold 34,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total value of $2,387,140.00. Following the transaction, the chief executive officer owned 226,064 shares in the company, valued at $15,871,953.44. This represents a 13.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Disc Medicine Stock Down 0.3%

Disc Medicine stock opened at $70.16 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 24.00 and a quick ratio of 24.00. The stock has a market capitalization of $2.68 billion, a PE ratio of -10.60 and a beta of 0.93. The business has a 50 day simple moving average of $68.79 and a 200-day simple moving average of $71.02. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.03). On average, analysts anticipate that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Arizona State Retirement System raised its position in shares of Disc Medicine by 2.2% in the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock valued at $540,000 after buying an additional 144 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock worth $533,000 after acquiring an additional 215 shares during the last quarter. AlphaCentric Advisors LLC boosted its position in Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock worth $254,000 after acquiring an additional 216 shares during the last quarter. Avanza Fonder AB boosted its position in Disc Medicine by 14.1% during the fourth quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock worth $151,000 after acquiring an additional 235 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Disc Medicine by 3.3% during the 4th quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock valued at $740,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IRON. Wells Fargo & Company lifted their target price on shares of Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Morgan Stanley raised their price target on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Truist Financial lowered their price objective on Disc Medicine from $114.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Wedbush reiterated an “outperform” rating and set a $88.00 price objective on shares of Disc Medicine in a research note on Wednesday, June 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.80.

About Disc Medicine

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.