Disc Medicine, Inc. (NASDAQ:IRON) Insider Rahul Khara Sells 7,500 Shares

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.54, for a total value of $416,550.00. Following the completion of the transaction, the insider now directly owns 14,035 shares in the company, valued at $779,503.90. This trade represents a 34.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rahul Khara also recently made the following trade(s):

• On Thursday, January 2nd, Rahul Khara sold 7,500 shares of Disc Medicine stock. The shares were sold at an average price of $62.75, for a total transaction of $470,625.00.

Disc Medicine Trading Up 3.1 %

Shares of NASDAQ:IRON opened at $56.01 on Thursday. The company has a market capitalization of $1.67 billion, a PE ratio of -14.07 and a beta of 0.73. Disc Medicine, Inc. has a 12-month low of $25.60 and a 12-month high of $77.60. The business’s fifty day simple moving average is $61.49 and its 200-day simple moving average is $54.30.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRON. Stifel Nicolaus lifted 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. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $66.00 to $110.00 in a research note on Monday, November 4th. Scotiabank increased their price objective on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $88.90.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Disc Medicine by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 57,261 shares of the company’s stock worth $3,630,000 after purchasing an additional 4,356 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Disc Medicine by 5.7% in the 4th quarter. Rhumbline Advisers now owns 29,036 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,553 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in Disc Medicine during the 4th quarter worth $486,000. China Universal Asset Management Co. Ltd. increased its position in Disc Medicine by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock valued at $400,000 after buying an additional 593 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Disc Medicine by 66.0% in the fourth quarter. SG Americas Securities LLC now owns 8,076 shares of the company’s stock valued at $512,000 after buying an additional 3,212 shares during the last quarter. Institutional investors 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.