Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Grows By 21.4%

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 5,460,074 shares, an increase of 21.4% from the March 15th total of 4,496,970 shares. Based on an average daily volume of 574,461 shares, the short-interest ratio is presently 9.5 days. Currently, 14.8% of the company’s stock are short sold.

Disc Medicine Price Performance

Shares of IRON opened at $71.77 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of -11.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 21.94 and a quick ratio of 21.94. Disc Medicine has a 1-year low of $40.00 and a 1-year high of $99.50. The company’s fifty day moving average price is $64.43 and its 200-day moving average price is $76.14.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.69) by $0.07. The company had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. On average, equities research analysts predict that Disc Medicine will post -4.07 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, CEO John D. Quisel sold 13,264 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $62.86, for a total transaction of $833,775.04. Following the transaction, the chief executive officer directly owned 226,064 shares of the company’s stock, valued at $14,210,383.04. This represents a 5.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider William Jacob Savage sold 5,731 shares of the stock in a transaction on Monday, April 13th. The shares were sold at an average price of $66.38, for a total value of $380,423.78. Following the transaction, the insider directly owned 79,480 shares in the company, valued at $5,275,882.40. The trade was a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 60,410 shares of company stock worth $3,909,753. Insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its position in Disc Medicine by 3,329.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 357,836 shares of the company’s stock valued at $28,416,000 after buying an additional 347,403 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Disc Medicine during the 3rd quarter worth $12,038,000. Y Intercept Hong Kong Ltd lifted its position in shares of Disc Medicine by 361.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 43,287 shares of the company’s stock worth $2,860,000 after purchasing an additional 33,905 shares during the last quarter. Atle Fund Management AB raised its stake in Disc Medicine by 85.3% during the 3rd quarter. Atle Fund Management AB now owns 45,690 shares of the company’s stock worth $3,019,000 after acquiring an additional 21,038 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Disc Medicine during the 3rd quarter worth $6,752,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on IRON shares. Raymond James Financial reiterated a “market perform” rating on shares of Disc Medicine in a research report on Thursday, January 15th. BMO Capital Markets dropped their price target on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company boosted their target price on Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Cantor Fitzgerald dropped their target price on Disc Medicine from $153.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Finally, Truist Financial dropped their target price on Disc Medicine from $114.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Disc Medicine currently has an average rating of “Moderate Buy” and an average target price of $104.80.

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.