Disc Medicine (NASDAQ:IRON) Shares Down 9% Following Insider Selling

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price fell 9% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $89.05 and last traded at $82.3370. 216,443 shares traded hands during trading, a decline of 49% from the average session volume of 426,750 shares. The stock had previously closed at $90.44.

Specifically, Director Kevin Bitterman sold 754 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $91.47, for a total transaction of $68,968.38. Following the transaction, the director directly owned 14,013 shares of the company’s stock, valued at $1,281,769.11. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Jacob Savage sold 13,093 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $91.22, for a total transaction of $1,194,343.46. Following the completion of the transaction, the insider directly owned 75,702 shares in the company, valued at approximately $6,905,536.44. The trade was a 14.75% decrease in their position. The SEC filing for this sale provides additional information. In other Disc Medicine news, Director Kevin Bitterman sold 45,507 shares of Disc Medicine stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $92.39, for a total transaction of $4,204,391.73. Following the transaction, the director owned 41,519 shares of the company’s stock, valued at $3,835,940.41. The trade was a 52.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IRON shares. Wedbush raised their target price on shares of Disc Medicine from $90.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wells Fargo & Company upped their price objective on Disc Medicine from $91.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus began coverage on shares of Disc Medicine in a research note on Monday, November 3rd. They set a “buy” rating and a $125.00 price target for the company. Raymond James Financial restated a “strong-buy” rating and issued a $117.00 price target on shares of Disc Medicine in a report on Monday, December 8th. Finally, Morgan Stanley lifted their price target on shares of Disc Medicine from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.00.

Disc Medicine Stock Performance

The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -14.96 and a beta of 0.87. The firm has a 50 day moving average price of $87.93 and a 200-day moving average price of $68.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results 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). As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Disc Medicine by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock worth $44,678,000 after purchasing an additional 84,278 shares in the last quarter. Sio Capital Management LLC lifted its stake in Disc Medicine by 287.4% in the 2nd quarter. Sio Capital Management LLC now owns 284,787 shares of the company’s stock valued at $15,082,000 after buying an additional 211,276 shares in the last quarter. Northern Trust Corp grew its holdings in Disc Medicine by 11.7% during the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock valued at $10,365,000 after buying an additional 21,796 shares during the last quarter. Geode Capital Management LLC increased its position in Disc Medicine by 4.7% during the second quarter. Geode Capital Management LLC now owns 598,589 shares of the company’s stock worth $31,705,000 after buying an additional 26,605 shares in the last quarter. Finally, Bank of Montreal Can increased its position in Disc Medicine by 87.8% during the second quarter. Bank of Montreal Can now owns 10,988 shares of the company’s stock worth $582,000 after buying an additional 5,137 shares in the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.