Disc Medicine (NASDAQ:IRON) Shares Down 3% – Here’s Why

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price fell 3% during trading on Monday . The company traded as low as $51.86 and last traded at $52.09. 20,173 shares were traded during trading, a decline of 94% from the average session volume of 347,387 shares. The stock had previously closed at $53.71.

Analysts Set New Price Targets

IRON has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a research note on Friday, March 7th. Cantor Fitzgerald upped their price target on Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. TD Cowen assumed coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price objective on Disc Medicine from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Finally, Raymond James started coverage on Disc Medicine in a report on Wednesday, June 11th. They issued a “strong-buy” rating and a $89.00 target price on the stock. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $96.70.

Disc Medicine Trading Down 2.6%

The stock has a market capitalization of $1.81 billion, a P/E ratio of -13.15 and a beta of 0.73. The company’s fifty day simple moving average is $45.86 and its 200 day simple moving average is $53.19.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Wednesday, May 7th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.03). Equities research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Insider Buying and Selling

In other Disc Medicine news, Director Mona Ashiya sold 10,011 shares of Disc Medicine stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.00, for a total transaction of $540,594.00. Following the sale, the director now directly owns 187,297 shares of the company’s stock, valued at approximately $10,114,038. The trade was a 5.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William Jacob Savage sold 2,996 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $50.00, for a total value of $149,800.00. Following the completion of the transaction, the insider now directly owns 56,725 shares of the company’s stock, valued at $2,836,250. This represents a 5.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,178 shares of company stock worth $3,582,568 in the last quarter. 4.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after purchasing an additional 503 shares during the period. Amalgamated Bank increased its holdings in Disc Medicine by 38.6% during the first quarter. Amalgamated Bank now owns 787 shares of the company’s stock valued at $39,000 after buying an additional 219 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Disc Medicine in the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Disc Medicine by 13,428.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 947 shares of the company’s stock worth $47,000 after acquiring an additional 940 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Disc Medicine by 47.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after acquiring an additional 266 shares during the period. Institutional investors own 83.70% of the company’s stock.

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.