Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,400,000 shares, a decline of 5.4% from the August 31st total of 1,480,000 shares. Based on an average trading volume of 254,500 shares, the days-to-cover ratio is presently 5.5 days. Approximately 9.0% of the company’s shares are sold short.

Disc Medicine Price Performance

IRON opened at $52.73 on Wednesday. The company has a market capitalization of $1.30 billion, a PE ratio of -15.60 and a beta of 0.59. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The business has a 50-day moving average of $47.33 and a 200-day moving average of $42.24.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.11) by $0.08. On average, equities research analysts expect that Disc Medicine will post -4.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after buying an additional 247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine in the 2nd quarter worth approximately $129,000. SG Americas Securities LLC boosted its position in Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after purchasing an additional 1,247 shares during the period. ProShare Advisors LLC acquired a new position in Disc Medicine during the first quarter valued at approximately $211,000. Finally, Fiduciary Trust Co acquired a new stake in shares of Disc Medicine in the fourth quarter worth $234,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IRON shares. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday, September 16th. BMO Capital Markets reissued an “outperform” rating and issued a $70.00 price objective (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Wells Fargo & Company initiated coverage on Disc Medicine in a research report on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.13.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.