Disc Medicine (NASDAQ:IRON) Director Sells $3,941,477.88 in Stock

by · The Markets Daily

Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) Director Kevin Bitterman sold 49,164 shares of the stock in a transaction on 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 completion of the sale, the director owned 13,499 shares of the company’s stock, valued at $1,082,214.83. The trade was a 78.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The shares were sold at an average price of $79.98, for a total value of $416,135.94.
  • On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The shares were sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Stock Down 0.8%

Shares of NASDAQ:IRON traded down $0.68 during trading on Thursday, reaching $79.37. 501,017 shares of the company traded hands, compared to its average volume of 568,092. The firm has a fifty day simple moving average of $77.49 and a 200 day simple moving average of $70.15. The firm has a market cap of $3.05 billion, a P/E ratio of -12.06 and a beta of 0.98. Disc Medicine, Inc. has a 1-year low of $40.00 and a 1-year high of $99.50. 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 posted its quarterly earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. Analysts anticipate that Disc Medicine, Inc. will post -6.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRON has been the topic of several research reports. Wedbush upped their target price on Disc Medicine from $88.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a report on Monday, August 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Disc Medicine in a research note on Tuesday. HC Wainwright increased their price objective on Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average target price of $107.70.

Get Our Latest Research Report on Disc Medicine

Institutional Investors Weigh In On Disc Medicine

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System grew its position in Disc Medicine by 2.2% during the fourth quarter. Arizona State Retirement System now owns 6,798 shares of the company’s stock worth $540,000 after buying an additional 144 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Disc Medicine by 3.3% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 6,716 shares of the company’s stock worth $533,000 after purchasing an additional 215 shares in the last quarter. AlphaCentric Advisors LLC increased its position in shares of Disc Medicine by 5.8% during the first quarter. AlphaCentric Advisors LLC now owns 3,972 shares of the company’s stock valued at $254,000 after purchasing an additional 216 shares during the period. Kennedy Capital Management LLC increased its position in shares of Disc Medicine by 3.3% during the fourth quarter. Kennedy Capital Management LLC now owns 9,324 shares of the company’s stock valued at $740,000 after purchasing an additional 296 shares during the period. Finally, State of Wyoming acquired a new position in shares of Disc Medicine in the second quarter valued at $25,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Disc Medicine Company Profile

(Get Free Report)

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.

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