Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 10,011 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 10,011 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.00, for a total transaction of $540,594.00. Following the completion of the transaction, the director now owns 187,297 shares in the company, valued at approximately $10,114,038. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, March 19th, Mona Ashiya sold 39,656 shares of Disc Medicine stock. The shares were sold at an average price of $54.02, for a total transaction of $2,142,217.12.
• 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 transaction of $4,529,259.90.
• On Monday, March 10th, Mona Ashiya sold 202,146 shares of Disc Medicine stock. The shares were sold at an average price of $54.29, for a total transaction of $10,974,506.34.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $52.24 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -13.13 and a beta of 0.73. The firm has a 50 day simple moving average of $55.26 and a 200 day simple moving average of $56.02. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $68.73.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.08. As a group, analysts expect that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in Disc Medicine in the 4th quarter valued at approximately $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Disc Medicine by 399.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock valued at $5,903,000 after acquiring an additional 74,454 shares during the period. Woodline Partners LP increased its position in Disc Medicine by 5.2% in the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock valued at $25,144,000 after acquiring an additional 19,538 shares during the period. ProShare Advisors LLC increased its position in Disc Medicine by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock valued at $442,000 after acquiring an additional 1,458 shares during the period. Finally, MPM Bioimpact LLC increased its position in Disc Medicine by 11.1% in the 4th quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock valued at $21,962,000 after acquiring an additional 34,640 shares during the period. Institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on IRON. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. TD Cowen began coverage on shares of Disc Medicine in a report on Thursday, February 27th. They issued a “buy” rating for the company. Morgan Stanley reissued an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Ten 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, Disc Medicine presently has a consensus rating of “Buy” and a consensus price target of $93.80.

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.