William Jacob Savage Sells 14,183 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 14,183 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the completion of the sale, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,644,507.25. The trade was a 25.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

William Jacob Savage also recently made the following trade(s):

• On Friday, November 15th, William Jacob Savage sold 9,158 shares of Disc Medicine stock. The shares were sold at an average price of $59.64, for a total value of $546,183.12.

Disc Medicine Stock Up 3.0 %

NASDAQ:IRON opened at $64.55 on Friday. The business’s 50 day moving average is $53.42 and its two-hundred day moving average is $46.92. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60. The company has a market cap of $1.92 billion, a PE ratio of -16.22 and a beta of 0.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.05 EPS for the current fiscal year.

Institutional Trading of Disc Medicine

A number of institutional investors and hedge funds have recently made changes to their positions in IRON. Frazier Life Sciences Management L.P. raised its position in shares of Disc Medicine by 123.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the period. Logos Global Management LP acquired a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $41,690,000. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $34,318,000. Deerfield Management Company L.P. Series C increased its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IRON shares. Scotiabank increased their price target on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Wedbush reissued an “outperform” rating and issued a $83.00 price target (up previously from $75.00) on shares of Disc Medicine in a report on Tuesday, November 12th. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price target for the company. HC Wainwright increased their price target on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $66.00 to $110.00 in a report on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and an average target price of $85.80.

About Disc Medicine

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.