Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) Director Kevin Bitterman sold 5,203 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $79.98, for a total transaction of $416,135.94. Following the sale, the director directly owned 13,445 shares of the company’s stock, valued at approximately $1,075,331.10. The trade was a 27.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kevin Bitterman also recently made the following trade(s):
- On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88.
- 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 Stock Down 0.2%
Shares of NASDAQ IRON opened at $79.23 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50. The stock’s 50-day simple moving average is $77.76 and its 200-day simple moving average is $70.38. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -12.04 and a beta of 0.97.
Institutional Trading of Disc Medicine
Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in shares of Disc Medicine by 8,273.0% in the 2nd quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock valued at $210,555,000 after buying an additional 2,844,408 shares during the period. BlackRock Inc. acquired a new stake in Disc Medicine during the second quarter worth about $180,502,000. RA Capital Management L.P. lifted its holdings in Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after acquiring an additional 399,026 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 319,621 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Disc Medicine by 0.3% in the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock valued at $127,362,000 after acquiring an additional 5,975 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
IRON has been the topic of a number of research analyst reports. Wedbush increased their price objective on shares of Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $90.00 target price on shares of Disc Medicine in a research note on Monday, August 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Disc Medicine in a research report on Tuesday. HC Wainwright lifted their price target on Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.70.
Read Our Latest Report on IRON
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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