Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Drops By 6.9%

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a decline of 6.9% from the September 30th total of 1,590,000 shares. Based on an average daily volume of 215,400 shares, the short-interest ratio is currently 6.9 days. Approximately 9.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research analysts recently commented on IRON shares. Wedbush reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Disc Medicine in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Scotiabank initiated coverage on shares of Disc Medicine in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 target price on the stock. Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.40.

Disc Medicine Trading Down 1.7 %

NASDAQ IRON opened at $44.82 on Friday. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The company has a 50 day moving average of $48.63 and a 200-day moving average of $42.44. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -12.21 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. On average, analysts forecast that Disc Medicine will post -4.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 96.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,717 shares of the company’s stock worth $281,000 after acquiring an additional 2,813 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Disc Medicine by 19.5% during the third quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Disc Medicine in the second quarter valued at approximately $636,000. Finally, Nantahala Capital Management LLC bought a new position in Disc Medicine in the 2nd quarter worth approximately $6,760,000. 83.70% of the stock is owned by institutional investors.

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.