Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) was up 6% during mid-day trading on Tuesday . The company traded as high as $81.19 and last traded at $81.6540. Approximately 283,034 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 620,642 shares. The stock had previously closed at $77.01.
Analyst Ratings Changes
IRON has been the subject of several research analyst reports. Morgan Stanley raised their price target on Disc Medicine from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Monday, April 20th. Wedbush reissued an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and an average price target of $104.44.
Get Our Latest Research Report on Disc Medicine
Disc Medicine Stock Performance
Disc Medicine (NASDAQ:IRON – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.62) by ($0.03). Equities analysts anticipate that Disc Medicine, Inc. will post -6.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Disc Medicine
In related news, CEO John D. Quisel sold 34,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.21, for a total value of $2,387,140.00. Following the sale, the chief executive officer owned 226,064 shares of the company’s stock, valued at $15,871,953.44. This trade represents a 13.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William Jacob Savage sold 5,731 shares of Disc Medicine stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $66.38, for a total transaction of $380,423.78. Following the completion of the transaction, the insider owned 79,480 shares of the company’s stock, valued at $5,275,882.40. This represents a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 85,000 shares of company stock valued at $5,956,865. 3.76% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Disc Medicine
Hedge funds and other institutional investors have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Disc Medicine during the 4th quarter worth $33,000. KBC Group NV acquired a new position in shares of Disc Medicine during the fourth quarter worth $80,000. Persistent Asset Partners Ltd purchased a new position in Disc Medicine in the fourth quarter valued at $141,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Disc Medicine by 36.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,834 shares of the company’s stock valued at $146,000 after buying an additional 490 shares during the last quarter. Finally, Avanza Fonder AB raised its stake in Disc Medicine by 14.1% in the fourth quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock valued at $151,000 after buying an additional 235 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.
Disc Medicine Company Profile
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.
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