Disc Medicine (NASDAQ:IRON) Director Sells 10,994 Shares of Stock

by · The Markets Daily

Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) Director Kevin Bitterman sold 10,994 shares of the firm’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $79.97, for a total value of $879,190.18. Following the completion of the sale, the director directly owned 13,312 shares of the company’s stock, valued at $1,064,560.64. The trade was a 45.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

  • On Wednesday, October 21st, Kevin Bitterman sold 25,519 shares of Disc Medicine stock. The shares were sold at an average price of $80.23, for a total transaction of $2,047,389.37.
  • On Tuesday, October 20th, Kevin Bitterman sold 5,312 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total transaction of $424,694.40.
  • On Friday, September 11th, Kevin Bitterman sold 27,136 shares of Disc Medicine stock. The shares were sold at an average price of $70.11, for a total transaction of $1,902,504.96.
  • On Friday, September 4th, Kevin Bitterman sold 1,689 shares of Disc Medicine stock. The stock was sold at an average price of $79.96, for a total transaction of $135,052.44.
  • On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The stock was sold at an average price of $79.98, for a total transaction of $416,135.94.
  • On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88.
  • On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Trading Down 4.4%

Shares of IRON traded down $3.48 during trading hours on Wednesday, reaching $76.00. 4,638,911 shares of the company traded hands, compared to its average volume of 643,026. Disc Medicine, Inc. has a 12 month low of $40.00 and a 12 month high of $99.50. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -11.55 and a beta of 0.93. The company’s fifty day moving average price is $71.53 and its two-hundred day moving average price is $71.39. The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09.

Disc Medicine (NASDAQ:IRON – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.17. Equities research analysts predict that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. bought a new stake in Disc Medicine during the third quarter worth about $2,310,000. Assenagon Asset Management S.A. grew its holdings in Disc Medicine by 191.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock worth $73,280,000 after purchasing an additional 735,300 shares during the period. Opaleye Management Inc. increased its stake in shares of Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock valued at $62,535,000 after purchasing an additional 434,000 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Disc Medicine by 110.9% during the second quarter. Engineers Gate Manager LP now owns 19,552 shares of the company’s stock valued at $1,430,000 after purchasing an additional 10,282 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Disc Medicine by 139.3% during the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock valued at $5,549,000 after purchasing an additional 44,163 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IRON shares. Wells Fargo & Company increased their target price on Disc Medicine from $86.00 to $124.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush lifted their price target on Disc Medicine from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday. Morgan Stanley upped their price target on Disc Medicine from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research note on Thursday, October 15th. Finally, Truist Financial increased their price objective on Disc Medicine from $83.00 to $115.00 and gave the stock a “buy” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Disc Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $122.70.

Get Our Latest Analysis on Disc Medicine

Disc Medicine Company Profile

(Get Free Report)

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.

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