Wells Fargo & Company Cuts Disc Medicine (NASDAQ:IRON) Price Target to $78.00

Disc Medicine (NASDAQ:IRON) had its price target decreased by equities research analysts at Wells Fargo & Company from $109.00 to $78.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 30.37% from the company’s previous close.

Several other research firms have also issued reports on IRON. Truist Financial raised their target price on shares of Disc Medicine from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, November 10th. BMO Capital Markets dropped their price target on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday. Stifel Nicolaus began coverage on Disc Medicine in a report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price objective for the company. UBS Group reissued an “overweight” rating on shares of Disc Medicine in a research report on Thursday, January 15th. Finally, TD Cowen reiterated a “buy” rating on shares of Disc Medicine in a research note on Friday, December 19th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.82.

Disc Medicine Stock Up 6.9%

Shares of NASDAQ IRON opened at $59.83 on Tuesday. The company has a current ratio of 23.45, a quick ratio of 23.45 and a debt-to-equity ratio of 0.05. Disc Medicine has a 12-month low of $30.82 and a 12-month high of $99.50. The firm’s 50-day moving average price is $78.93 and its 200-day moving average price is $75.24. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -11.18 and a beta of 0.88.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 40,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $93.05, for a total value of $3,722,000.00. Following the completion of the transaction, the chief executive officer owned 171,828 shares of the company’s stock, valued at approximately $15,988,595.40. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Bitterman sold 68,923 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $91.24, for a total transaction of $6,288,534.52. Following the sale, the director directly owned 14,161 shares in the company, valued at $1,292,049.64. This trade represents a 82.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 245,470 shares of company stock worth $22,425,170. 3.64% of the stock is owned by insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in Disc Medicine by 1.8% in the third quarter. Arizona State Retirement System now owns 6,654 shares of the company’s stock valued at $440,000 after purchasing an additional 120 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 2.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,094 shares of the company’s stock worth $469,000 after acquiring an additional 138 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Disc Medicine by 8.9% during the second quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock worth $133,000 after acquiring an additional 206 shares during the period. Police & Firemen s Retirement System of New Jersey raised its position in Disc Medicine by 3.3% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock valued at $533,000 after acquiring an additional 215 shares in the last quarter. Finally, Avanza Fonder AB lifted its holdings in Disc Medicine by 14.1% in the fourth quarter. Avanza Fonder AB now owns 1,903 shares of the company’s stock valued at $151,000 after acquiring an additional 235 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.