Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Increases By 6.6%

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, a growth of 6.6% from the December 15th total of 1,660,000 shares. Currently, 11.3% of the shares of the company are short sold. Based on an average daily trading volume, of 316,200 shares, the short-interest ratio is presently 5.6 days.

Analyst Upgrades and Downgrades

IRON has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Stifel Nicolaus increased their price target on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Tuesday, November 5th. Jefferies Financial Group began coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price on the stock. Finally, Scotiabank boosted their price target on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $87.50.

Disc Medicine Stock Down 2.9 %

NASDAQ IRON opened at $58.24 on Tuesday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -14.63 and a beta of 0.75. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The business’s fifty day moving average is $62.88 and its 200 day moving average is $53.56.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.15. On average, research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of Disc Medicine stock in a transaction on Monday, December 16th. The stock was sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the transaction, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at $4,757,010.65. The trade was a 15.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jacob Savage sold 9,158 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the sale, the insider now directly owns 40,405 shares in the company, valued at approximately $2,409,754.20. This trade represents a 18.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,758 shares of company stock worth $5,400,990 in the last 90 days. Company insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of Disc Medicine by 66.0% during the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock valued at $512,000 after acquiring an additional 3,212 shares during the last quarter. JPMorgan Chase & Co. raised its position in Disc Medicine by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock worth $799,000 after purchasing an additional 2,257 shares during the last quarter. Exome Asset Management LLC lifted its holdings in Disc Medicine by 5.8% during the 3rd quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock worth $3,170,000 after buying an additional 3,516 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Disc Medicine by 38.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after buying an additional 5,458 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Disc Medicine by 17.6% in the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock valued at $23,333,000 after buying an additional 70,983 shares during the period. 83.70% of the stock is owned by institutional investors.

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.