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

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

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 9,158 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.64, for a total value of $546,183.12. Following the completion of the sale, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,409,754.20. This represents a 18.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John D. Quisel sold 12,791 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,421 shares of company stock worth $4,973,428. Corporate insiders own 4.24% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Disc Medicine by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after buying an additional 593 shares during the period. The Manufacturers Life Insurance Company increased its position in Disc Medicine by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 29,065 shares of the company’s stock worth $1,428,000 after buying an additional 771 shares during the period. SG Americas Securities LLC increased its position in Disc Medicine by 19.5% in the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock worth $239,000 after buying an additional 793 shares during the period. Finally, Rhumbline Advisers increased its position in Disc Medicine by 5.7% in the fourth quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock worth $1,841,000 after buying an additional 1,553 shares during the period. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Down 1.5 %

Shares of NASDAQ:IRON opened at $54.99 on Tuesday. The firm’s 50 day moving average price is $61.83 and its 200 day moving average price is $54.23. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -13.82 and a beta of 0.74. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRON. Raymond James upgraded shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Morgan Stanley raised shares of 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. Scotiabank upped their price objective on shares of Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research report on Tuesday, January 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Disc Medicine has an average rating of “Buy” and a consensus price target of $88.90.

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.