Disc Medicine (NASDAQ:IRON – Get Free Report) posted its earnings results on Thursday. The company reported ($1.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.17, FiscalAI reports.
Disc Medicine Stock Up 7.5%
Shares of IRON stock traded up $5.54 during midday trading on Thursday, reaching $79.21. 374,866 shares of the stock were exchanged, compared to its average volume of 598,085. Disc Medicine has a 1 year low of $40.00 and a 1 year high of $99.50. The firm has a market cap of $3.02 billion, a PE ratio of -11.97 and a beta of 0.97. The company’s 50 day moving average is $72.29 and its two-hundred day moving average is $69.63. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $88.00 price target on shares of Disc Medicine in a research note on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. 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 company. According to MarketBeat, Disc Medicine has an average rating of “Moderate Buy” and a consensus price target of $104.44.
Insider Activity
In related news, COO Jonathan Yen-Wen Yu sold 18,612 shares of Disc Medicine stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the sale, the chief operating officer directly owned 54,324 shares in the company, valued at $3,758,677.56. The trade was a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider owned 52,173 shares in the company, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 105,712 shares of company stock worth $7,597,536 in the last quarter. 3.76% of the stock is owned by company insiders.
Institutional Trading of Disc Medicine
Hedge funds have recently modified their holdings of the business. First Trust Advisors LP bought a new position in shares of Disc Medicine in the 2nd quarter worth about $543,000. Police & Firemen s Retirement System of New Jersey boosted its stake in Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock worth $533,000 after acquiring an additional 215 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Disc Medicine during the fourth quarter worth about $434,000. VARCOV Co. purchased a new stake in Disc Medicine in the fourth quarter worth about $423,000. Finally, Verition Fund Management LLC purchased a new stake in Disc Medicine in the third quarter worth about $405,000. Institutional investors own 83.70% of the company’s stock.
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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