Disc Medicine (NASDAQ:IRON) CEO Sells $3,722,000.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John Quisel sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $93.05, for a total value of $3,722,000.00. Following the transaction, the chief executive officer owned 171,828 shares of the company’s stock, valued at $15,988,595.40. This trade represents a 18.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Disc Medicine Price Performance

Shares of IRON stock opened at $87.35 on Thursday. The stock’s fifty day simple moving average is $87.33 and its 200 day simple moving average is $68.35. Disc Medicine, Inc. has a one year low of $30.82 and a one year high of $99.50. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -16.33 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.29). On average, analysts expect that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Disc Medicine by 11.1% during the second quarter. JPMorgan Chase & Co. now owns 843,616 shares of the company’s stock worth $44,678,000 after buying an additional 84,278 shares during the last quarter. Sio Capital Management LLC grew its holdings in Disc Medicine by 287.4% during the 2nd quarter. Sio Capital Management LLC now owns 284,787 shares of the company’s stock worth $15,082,000 after acquiring an additional 211,276 shares during the period. Northern Trust Corp raised its position in shares of Disc Medicine by 11.7% during the 1st quarter. Northern Trust Corp now owns 208,813 shares of the company’s stock valued at $10,365,000 after acquiring an additional 21,796 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Disc Medicine by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 598,589 shares of the company’s stock valued at $31,705,000 after purchasing an additional 26,605 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Disc Medicine by 87.8% in the 2nd quarter. Bank of Montreal Can now owns 10,988 shares of the company’s stock worth $582,000 after purchasing an additional 5,137 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

IRON has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, October 8th. Truist Financial lifted their target price on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Cantor Fitzgerald increased their price target on Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Morgan Stanley raised their price target on Disc Medicine from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, National Bankshares set a $153.00 price objective on Disc Medicine in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Disc Medicine presently has an average rating of “Moderate Buy” and an average price target of $119.00.

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.