Disc Medicine (NASDAQ:IRON) Shares Down 5% – Here’s What Happened

Disc Medicine, Inc. (NASDAQ:IRON)’s share price was down 5% on Friday . The company traded as low as $70.27 and last traded at $70.4450. 164,058 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 563,333 shares. The stock had previously closed at $74.14.

Analyst Ratings Changes

Several brokerages recently issued reports on IRON. BMO Capital Markets reaffirmed an “outperform” rating on shares of Disc Medicine in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Disc Medicine in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $90.00 target price on shares of Disc Medicine in a research report on Monday, August 17th. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Disc Medicine in a research report on Thursday. Finally, Wall Street Zen cut shares of Disc Medicine from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.55.

Disc Medicine Stock Performance

The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.70 billion, a PE ratio of -10.69 and a beta of 0.97. The company has a 50-day moving average of $77.92 and a 200 day moving average of $70.85.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. Equities research analysts predict that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Insider Activity at Disc Medicine

In related news, insider Rahul Khara sold 7,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the transaction, the insider owned 52,173 shares of the company’s stock, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Bitterman sold 49,164 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the sale, the director owned 13,499 shares in the company, valued at $1,082,214.83. The trade was a 78.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 209,797 shares of company stock valued at $15,934,791 over the last ninety days. 3.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Disc Medicine by 8,273.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock valued at $210,555,000 after buying an additional 2,844,408 shares in the last quarter. BlackRock Inc. purchased a new stake in Disc Medicine in the second quarter worth approximately $180,502,000. JPMorgan Chase & Co. boosted its stake in Disc Medicine by 110.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock worth $125,557,000 after buying an additional 828,248 shares in the last quarter. BVF Inc. IL bought a new position in Disc Medicine during the fourth quarter valued at approximately $51,616,000. Finally, Perceptive Advisors LLC bought a new position in Disc Medicine during the fourth quarter valued at approximately $35,794,000. 83.70% of the stock is currently owned by institutional investors.

About Disc Medicine

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.