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 Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the sale, the insider now owns 14,035 shares of the company’s stock, valued at approximately $880,696.25. The trade was a 34.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Disc Medicine Trading Down 2.8 %

Disc Medicine stock opened at $62.04 on Tuesday. The company has a market capitalization of $1.85 billion, a PE ratio of -15.59 and a beta of 0.75. The stock has a 50-day moving average price of $62.21 and a two-hundred day moving average price of $52.46. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Several institutional investors have recently modified their holdings of IRON. Bank of New York Mellon Corp lifted its holdings in Disc Medicine by 89.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 51,050 shares of the company’s stock worth $2,301,000 after buying an additional 24,094 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Disc Medicine in the second quarter valued at approximately $129,000. Rhumbline Advisers increased its position in Disc Medicine by 86.2% during the 2nd quarter. Rhumbline Advisers now owns 24,447 shares of the company’s stock valued at $1,102,000 after purchasing an additional 11,315 shares during the period. TD Asset Management Inc raised its holdings in Disc Medicine by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after purchasing an additional 1,468 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Disc Medicine by 46.5% in the 2nd quarter. Victory Capital Management Inc. now owns 312,049 shares of the company’s stock worth $14,064,000 after purchasing an additional 98,988 shares during the period. Institutional investors own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IRON shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank upped their price target on shares of Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 5th. HC Wainwright reissued a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a research note on Monday, December 9th. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a report on Monday, December 9th. Finally, Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Nine equities 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 MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $87.50.

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.