Disc Medicine (NASDAQ:IRON) Shares Down 7.5% After Analyst Downgrade

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) fell 7.5% during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $75.00 to $40.00. Morgan Stanley currently has an equal weight rating on the stock. Disc Medicine traded as low as $30.86 and last traded at $31.64. 96,660 shares changed hands during trading, a decline of 75% from the average session volume of 381,065 shares. The stock had previously closed at $34.21.

Several other research firms have also recently issued reports on IRON. Stifel Nicolaus decreased their target price on shares of Disc Medicine from $104.00 to $71.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets decreased their target price on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Wednesday, December 20th. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research note on Monday. Finally, Raymond James reiterated an “outperform” rating and issued a $40.00 target price (down from $75.00) on shares of Disc Medicine in a research note on Monday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

View Our Latest Report on Disc Medicine

Insider Buying and Selling

In related news, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the sale, the director now owns 786,160 shares of the company’s stock, valued at approximately $50,314,240. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Kevin Bitterman sold 20,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the completion of the sale, the director now owns 786,160 shares of the company’s stock, valued at approximately $50,314,240. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 30,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $64.00, for a total transaction of $1,920,000.00. Following the completion of the sale, the insider now directly owns 1,449,686 shares of the company’s stock, valued at approximately $92,779,904. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,000 shares of company stock valued at $13,347,500. 4.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Disc Medicine

A number of large investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its holdings in shares of Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after buying an additional 145,781 shares in the last quarter. Perceptive Advisors LLC grew its holdings in shares of Disc Medicine by 14.2% during the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after buying an additional 127,404 shares in the last quarter. Frazier Life Sciences Management L.P. grew its holdings in shares of Disc Medicine by 19.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after buying an additional 130,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Disc Medicine by 14.9% during the fourth quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock worth $44,160,000 after buying an additional 99,092 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Disc Medicine by 280.4% during the second quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after buying an additional 480,082 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Price Performance

The firm has a market cap of $773.32 million, a PE ratio of -9.18 and a beta of 0.18. The stock’s fifty day moving average price is $64.16 and its 200-day moving average price is $57.00.

Disc Medicine (NASDAQ:IRONGet Free Report) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.37 earnings per share for the current fiscal year.

About Disc Medicine

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

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