Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) Director Kevin Bitterman sold 49,164 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the completion of the transaction, the director owned 13,499 shares of the company’s stock, valued at $1,082,214.83. The trade was a 78.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kevin Bitterman also recently made the following trade(s):
- On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94.
- On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total value of $10,313.55.
Disc Medicine Trading Down 0.8%
Shares of NASDAQ IRON traded down $0.68 during midday trading on Thursday, hitting $79.37. The stock had a trading volume of 501,017 shares, compared to its average volume of 568,092. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -12.06 and a beta of 0.98. The company has a fifty day moving average price of $77.49 and a 200 day moving average price of $70.15.
Analyst Ratings Changes
A number of brokerages have weighed in on IRON. Wedbush raised their price objective on Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. HC Wainwright increased their target price on Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research report on Monday, August 17th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.70.
Read Our Latest Analysis on Disc Medicine
Institutional Investors Weigh In On Disc Medicine
Several large investors have recently modified their holdings of the stock. NEXTBio Capital Management LP acquired a new position in shares of Disc Medicine in the 4th quarter valued at $3,397,000. DNB Asset Management AS lifted its stake in Disc Medicine by 1,425.8% during the fourth quarter. DNB Asset Management AS now owns 84,255 shares of the company’s stock valued at $6,691,000 after buying an additional 78,733 shares in the last quarter. Eagle Health Investments LP acquired a new position in shares of Disc Medicine in the fourth quarter worth about $2,152,000. Vanguard Group Inc. boosted its holdings in shares of Disc Medicine by 22.1% in the fourth quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock worth $140,371,000 after buying an additional 319,621 shares during the period. Finally, BlackRock Inc. purchased a new position in shares of Disc Medicine in the second quarter worth approximately $180,502,000. 83.70% of the stock is owned by institutional investors.
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.
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