Insider Selling: Disc Medicine (NASDAQ:IRON) Insider Sells $380,423.78 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 5,731 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was 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. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

William Jacob Savage also recently made the following trade(s):

• On Monday, March 2nd, William Jacob Savage sold 7,378 shares of Disc Medicine stock. The stock was sold at an average price of $65.88, for a total value of $486,062.64.
• On Tuesday, February 17th, William Jacob Savage sold 3,256 shares of Disc Medicine stock. The stock was sold at an average price of $62.86, for a total value of $204,672.16.

Disc Medicine Stock Up 3.3%

NASDAQ:IRON opened at $71.77 on Friday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -11.98 and a beta of 0.91. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The stock’s 50 day moving average price is $64.43 and its two-hundred day moving average price is $76.14. The company has a quick ratio of 21.94, a current ratio of 21.94 and a debt-to-equity ratio of 0.04.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.69) by $0.07. The firm had revenue of ($19.88) million for the quarter, compared to the consensus estimate of $0.15 million. Equities research 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 and hedge funds have recently modified their holdings of IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Disc Medicine by 22.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock valued at $756,000 after purchasing an additional 2,807 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after purchasing an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Disc Medicine by 3.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after purchasing an additional 3,454 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Disc Medicine by 18.0% in the second quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Disc Medicine by 21.6% in the second quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after purchasing an additional 2,983 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on IRON shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Disc Medicine in a research report on Friday, December 19th. Raymond James Financial reaffirmed a “market perform” rating on shares of Disc Medicine in a research report on Thursday, January 15th. Morgan Stanley set a $75.00 price target on shares of Disc Medicine in a research report on Tuesday, February 17th. Finally, Cantor Fitzgerald decreased their price objective on shares of Disc Medicine from $153.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently 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.