Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $806,093.40 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 13,012 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $61.95, for a total value of $806,093.40. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,464,426.75. This represents a 15.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Disc Medicine Trading Down 1.5 %

IRON stock traded down $0.95 during trading on Thursday, hitting $62.45. 257,727 shares of the company’s stock were exchanged, compared to its average volume of 341,703. The business has a 50-day moving average price of $61.20 and a two-hundred day moving average price of $51.99. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.69 and a beta of 0.76. Disc Medicine, Inc. has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.15. On average, equities research analysts anticipate that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRON has been the topic of a number of recent analyst reports. Scotiabank upped their price objective on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a research report on Monday, December 9th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Tuesday, October 15th. Nine research 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, the company has a consensus rating of “Buy” and a consensus target price of $87.50.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after purchasing an additional 969,834 shares during the last quarter. Logos Global Management LP acquired a new position in Disc Medicine during the second quarter worth approximately $41,690,000. Point72 Asset Management L.P. purchased a new stake in Disc Medicine in the second quarter valued at approximately $34,318,000. Deerfield Management Company L.P. Series C boosted its holdings in shares of Disc Medicine by 53.8% in the second 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, Janus Henderson Group PLC grew its position in shares of Disc Medicine by 68.2% during the third quarter. Janus Henderson Group PLC now owns 749,827 shares of the company’s stock worth $36,828,000 after acquiring an additional 303,954 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.