Disc Medicine (NASDAQ:IRON) Shares Gap Up After Analyst Upgrade

Disc Medicine, Inc. (NASDAQ:IRON) shares gapped up prior to trading on Friday after Cantor Fitzgerald raised their price target on the stock from $132.00 to $153.00. The stock had previously closed at $74.36, but opened at $85.50. Cantor Fitzgerald currently has an overweight rating on the stock. Disc Medicine shares last traded at $91.59, with a volume of 973,197 shares traded.

Other research analysts have also issued reports about the company. Truist Financial began coverage on Disc Medicine in a research note on Monday, July 21st. They set a “buy” rating and a $86.00 price objective for the company. Wedbush increased their target price on shares of Disc Medicine from $90.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James Financial increased their target price on shares of Disc Medicine from $89.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Thursday, July 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.73.

Insiders Place Their Bets

In other Disc Medicine news, Director Kevin Bitterman sold 70,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $88.91, for a total value of $6,223,700.00. Following the completion of the sale, the director owned 385,549 shares in the company, valued at approximately $34,279,161.59. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 269,803 shares of company stock valued at $19,622,192. Company insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds have recently modified their holdings of the stock. Avanza Fonder AB grew its stake in shares of Disc Medicine by 54.0% during the third quarter. Avanza Fonder AB now owns 1,668 shares of the company’s stock valued at $110,000 after purchasing an additional 585 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Disc Medicine during the third quarter worth $689,000. Tower Research Capital LLC TRC raised its position in shares of Disc Medicine by 383.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,975 shares of the company’s stock worth $211,000 after acquiring an additional 3,152 shares during the last quarter. Opaleye Management Inc. raised its position in shares of Disc Medicine by 119.3% during the second quarter. Opaleye Management Inc. now owns 186,418 shares of the company’s stock worth $9,873,000 after acquiring an additional 101,418 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in shares of Disc Medicine by 69.4% during the second quarter. Eventide Asset Management LLC now owns 308,030 shares of the company’s stock worth $16,313,000 after acquiring an additional 126,212 shares during the last quarter. 83.70% of the stock is owned by institutional investors.

Disc Medicine Trading Up 21.0%

The company has a market cap of $3.13 billion, a P/E ratio of -20.12 and a beta of 0.80. The company has a quick ratio of 32.11, a current ratio of 32.11 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $63.69 and a two-hundred day moving average price of $54.72.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). On average, analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

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.