Disc Medicine (NASDAQ:IRON) Stock: Insider William Jacob Savage Sells 16,035 Shares

Disc Medicine, Inc. (NASDAQ:IRON) insider William Savage sold 16,035 shares of Disc Medicine stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $85.09, for a total transaction of $1,364,418.15. Following the completion of the sale, the insider directly owned 63,445 shares in the company, valued at $5,398,535.05. This trade represents a 20.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Disc Medicine Stock Performance

NASDAQ IRON opened at $80.00 on Friday. The company’s 50 day moving average is $71.60 and its 200-day moving average is $71.07. The company has a quick ratio of 24.14, a current ratio of 20.30 and a debt-to-equity ratio of 0.10. Disc Medicine, Inc. has a 12-month low of $40.00 and a 12-month high of $99.50. The firm has a market cap of $3.64 billion, a P/E ratio of -12.62 and a beta of 0.96.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, November 5th. The company reported ($1.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.63) by $0.10. Sell-side analysts predict that Disc Medicine, Inc. will post -6.20 earnings per share for the current year.

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 Disc Medicine in the second quarter valued at approximately $1,350,000. Bank of America Corp DE bought a new stake in Disc Medicine during the second quarter valued at approximately $9,882,000. Squarepoint Ops LLC lifted its position in Disc Medicine by 139.3% during the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock valued at $5,549,000 after purchasing an additional 44,163 shares during the last quarter. Opaleye Management Inc. lifted its position in Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after purchasing an additional 434,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Disc Medicine by 191.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock worth $73,280,000 after buying an additional 735,300 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on IRON shares. Wells Fargo & Company boosted their price objective on shares of Disc Medicine from $86.00 to $124.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Truist Financial upped their target price on shares of Disc Medicine from $83.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, October 19th. Morgan Stanley increased their target price on shares of Disc Medicine from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Finally, BMO Capital Markets boosted their price target on shares of Disc Medicine from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.18.

Disc Medicine Company Profile

Disc Medicine, Inc. is a clinical-stage biopharmaceutical company developing treatments for serious hematologic diseases. Its research focuses on disorders involving heme production and iron regulation, biological processes that affect red blood cell function. The company’s development pipeline includes bitopertin, an investigational treatment for erythropoietic protoporphyria and X-linked protoporphyria, and DISC-0974, an investigational therapy being studied for anemia associated with myelofibrosis and chronic kidney disease.