Insider Selling: Disc Medicine (NASDAQ:IRON) Insider Sells $1,194,343.46 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 13,093 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $91.22, for a total transaction of $1,194,343.46. Following the transaction, the insider owned 75,702 shares in the company, valued at approximately $6,905,536.44. The trade was a 14.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Disc Medicine Stock Up 3.4%

Shares of NASDAQ:IRON opened at $90.44 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -16.90 and a beta of 0.87. The company has a 50 day moving average of $87.72 and a 200-day moving average of $68.51. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $99.50.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). On average, sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IRON. Arizona State Retirement System lifted its position in shares of Disc Medicine by 1.8% in the third quarter. Arizona State Retirement System now owns 6,654 shares of the company’s stock worth $440,000 after purchasing an additional 120 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Disc Medicine by 2.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,094 shares of the company’s stock valued at $469,000 after buying an additional 138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after buying an additional 181 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Disc Medicine by 8.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock worth $133,000 after buying an additional 206 shares in the last quarter. Finally, HighVista Strategies LLC boosted its stake in shares of Disc Medicine by 4.3% during the 2nd quarter. HighVista Strategies LLC now owns 6,733 shares of the company’s stock worth $357,000 after buying an additional 275 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IRON. Truist Financial upped their price objective on Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a report on Monday, November 10th. Morgan Stanley boosted their target price on Disc Medicine from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company increased their price target on shares of Disc Medicine from $91.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus assumed coverage on shares of Disc Medicine in a report on Monday, November 3rd. They set a “buy” rating and a $125.00 price objective for the company. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $117.00 target price on shares of Disc Medicine in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

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.