Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 202,146 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 202,146 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34. Following the transaction, the director now owns 208,742 shares in the company, valued at approximately $11,332,603.18. The trade was a 49.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mona Ashiya also recently made the following trade(s):

• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The shares were sold at an average price of $54.45, for a total value of $4,529,259.90.

Disc Medicine Stock Performance

NASDAQ IRON opened at $53.93 on Thursday. The business has a 50 day simple moving average of $56.62 and a 200 day simple moving average of $55.94. Disc Medicine, Inc. has a 52-week low of $25.60 and a 52-week high of $68.86. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -13.55 and a beta of 0.73.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. On average, analysts predict that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

IRON has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target (up from $83.00) on shares of Disc Medicine in a research note on Tuesday, January 21st. Stifel Nicolaus upped their price target on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Scotiabank upped their price target on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Tuesday, January 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price target on shares of Disc Medicine in a research note on Friday, March 7th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $89.10.

Hedge Funds Weigh In On Disc Medicine

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 503 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its holdings in shares of Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock valued at $52,000 after buying an additional 266 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $131,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Disc Medicine in the 3rd quarter valued at approximately $146,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.