Disc Medicine (NASDAQ:IRON) Director Sells $1,711,416.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 22,160 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $77.23, for a total transaction of $1,711,416.80. Following the transaction, the director owned 478,461 shares of the company’s stock, valued at $36,951,543.03. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Kevin Bitterman also recently made the following trade(s):

• On Friday, October 17th, Kevin Bitterman sold 70,000 shares of Disc Medicine stock. The shares were sold at an average price of $88.91, for a total value of $6,223,700.00.
• On Thursday, October 16th, Kevin Bitterman sold 1,425 shares of Disc Medicine stock. The stock was sold at an average price of $77.11, for a total value of $109,881.75.
• On Wednesday, October 8th, Kevin Bitterman sold 71,961 shares of Disc Medicine stock. The stock was sold at an average price of $70.58, for a total value of $5,079,007.38.
• On Tuesday, October 7th, Kevin Bitterman sold 18,039 shares of Disc Medicine stock. The shares were sold at an average price of $68.38, for a total value of $1,233,506.82.
• On Friday, August 22nd, Kevin Bitterman sold 2,287 shares of Disc Medicine stock. The stock was sold at an average price of $61.03, for a total value of $139,575.61.
• On Thursday, August 14th, Kevin Bitterman sold 7,212 shares of Disc Medicine stock. The shares were sold at an average price of $60.99, for a total value of $439,859.88.
• On Wednesday, August 13th, Kevin Bitterman sold 24,962 shares of Disc Medicine stock. The shares were sold at an average price of $61.15, for a total transaction of $1,526,426.30.
• On Tuesday, August 5th, Kevin Bitterman sold 395 shares of Disc Medicine stock. The stock was sold at an average price of $60.95, for a total transaction of $24,075.25.
• On Wednesday, July 30th, Kevin Bitterman sold 8,492 shares of Disc Medicine stock. The shares were sold at an average price of $61.04, for a total transaction of $518,351.68.
• On Thursday, July 24th, Kevin Bitterman sold 13,033 shares of Disc Medicine stock. The shares were sold at an average price of $61.17, for a total transaction of $797,228.61.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $89.94 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 32.11 and a current ratio of 32.11. Disc Medicine, Inc. has a 52 week low of $30.82 and a 52 week high of $95.95. The firm has a market cap of $3.13 billion, a PE ratio of -20.12 and a beta of 0.80. The firm’s fifty day moving average is $63.69 and its 200-day moving average is $54.83.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IRON. Arizona State Retirement System grew its holdings in Disc Medicine by 12.5% in the first quarter. Arizona State Retirement System now owns 5,315 shares of the company’s stock worth $264,000 after purchasing an additional 590 shares during the period. Amalgamated Bank raised its holdings in shares of 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 purchasing an additional 219 shares during the period. Rhumbline Advisers boosted its position in shares of Disc Medicine by 10.7% during the 1st quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock worth $1,596,000 after purchasing an additional 3,108 shares in the last quarter. Northern Trust Corp grew its stake in shares of Disc Medicine by 11.7% in 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 period. Finally, Atle Fund Management AB acquired a new stake in shares of Disc Medicine in the 2nd quarter valued at about $1,306,000. 83.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IRON shares. Truist Financial started coverage on Disc Medicine in a research report on Monday, July 21st. They set a “buy” rating and a $86.00 price objective for the company. Raymond James Financial boosted their price target 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. Wedbush upped their price objective on shares of Disc Medicine from $90.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Disc Medicine from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, National Bankshares set a $153.00 target price on shares of Disc Medicine in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Disc Medicine presently has an average rating of “Moderate Buy” and an average price target of $108.73.

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.