Disc Medicine (NASDAQ:IRON) Stock Price Down 4.1%

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price was down 4.1% during mid-day trading on Friday . The stock traded as low as $28.61 and last traded at $28.78. Approximately 46,547 shares traded hands during trading, a decline of 89% from the average daily volume of 415,544 shares. The stock had previously closed at $30.02.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IRON shares. Wedbush reissued an “outperform” rating and set a $43.00 price objective (down previously from $84.00) on shares of Disc Medicine in a research note on Monday, April 1st. Stifel Nicolaus lifted their price objective on Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, April 8th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Monday, April 1st. Raymond James reissued an “outperform” rating and set a $40.00 price objective (down previously from $75.00) on shares of Disc Medicine in a research note on Monday, April 1st. Finally, BMO Capital Markets dropped their price target on Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.29.

Disc Medicine Price Performance

The company has a 50 day simple moving average of $54.99 and a 200-day simple moving average of $55.34. The stock has a market cap of $692.58 million, a P/E ratio of -8.22 and a beta of 0.18.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). As a group, research analysts expect that Disc Medicine, Inc. will post -4.44 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total value of $3,213,375.00. Following the transaction, the insider now owns 1,402,186 shares in the company, valued at $94,857,882.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of Disc Medicine stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total value of $3,213,375.00. Following the transaction, the insider now owns 1,402,186 shares in the company, valued at $94,857,882.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kevin Bitterman sold 102,500 shares of Disc Medicine stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total value of $6,934,125.00. Following the completion of the transaction, the director now owns 198,326 shares in the company, valued at approximately $13,416,753.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,560 shares of company stock worth $10,228,908. Company insiders own 4.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IRON. Citadel Advisors LLC increased its holdings in Disc Medicine by 280.4% during the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock valued at $28,919,000 after purchasing an additional 480,082 shares during the period. BlackRock Inc. increased its holdings in Disc Medicine by 2,041.5% during the 2nd quarter. BlackRock Inc. now owns 502,549 shares of the company’s stock valued at $22,313,000 after purchasing an additional 479,082 shares during the period. Sphera Funds Management LTD. purchased a new position in Disc Medicine during the 1st quarter valued at about $4,662,000. First Turn Management LLC purchased a new position in Disc Medicine during the 4th quarter valued at about $9,084,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in Disc Medicine by 12.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.