Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Rises By 53.8%

by · The Markets Daily

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 3,790,158 shares, a growth of 53.8% from the December 15th total of 2,464,343 shares. Based on an average daily trading volume, of 785,510 shares, the short-interest ratio is presently 4.8 days. Approximately 10.4% of the company’s shares are short sold. Approximately 10.4% of the company’s shares are short sold. Based on an average daily trading volume, of 785,510 shares, the short-interest ratio is presently 4.8 days.

Insider Activity at Disc Medicine

In related news, Director Kevin Bitterman sold 68,923 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $91.24, for a total value of $6,288,534.52. Following the completion of the sale, the director owned 14,161 shares in the company, valued at approximately $1,292,049.64. The trade was a 82.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $84.70, for a total value of $2,541,000.00. Following the completion of the transaction, the chief operating officer directly owned 40,555 shares in the company, valued at approximately $3,435,008.50. This trade represents a 42.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 274,470 shares of company stock worth $24,896,430 over the last quarter. 3.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRON. Aster Capital Management DIFC Ltd purchased a new position in shares of Disc Medicine in the third quarter worth about $38,000. CWM LLC raised its position in Disc Medicine by 213.5% during the 2nd quarter. CWM LLC now owns 1,044 shares of the company’s stock worth $55,000 after buying an additional 711 shares during the last quarter. Avanza Fonder AB purchased a new position in Disc Medicine during the 2nd quarter worth approximately $57,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,338 shares of the company’s stock valued at $71,000 after acquiring an additional 181 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Disc Medicine by 8.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,515 shares of the company’s stock valued at $133,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Down 0.2%

Shares of NASDAQ:IRON traded down $0.11 during trading on Friday, reaching $70.93. The stock had a trading volume of 454,807 shares, compared to its average volume of 643,055. The firm’s 50-day simple moving average is $85.55 and its 200 day simple moving average is $72.42. 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 one year low of $30.82 and a one year high of $99.50. The company has a market capitalization of $2.68 billion, a P/E ratio of -13.26 and a beta of 0.87.

Disc Medicine (NASDAQ:IRONGet Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.48) by ($0.29). As a group, research analysts expect that Disc Medicine will post -4.07 EPS for the current fiscal year.

Analyst Ratings Changes

IRON has been the topic of several research reports. Stifel Nicolaus initiated 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. Truist Financial increased 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. UBS Group restated an “overweight” rating on shares of Disc Medicine in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Disc Medicine in a research report on Wednesday, October 8th. Finally, National Bankshares set a $153.00 price objective on shares of Disc Medicine in a research note on Friday, October 17th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Read Our Latest Stock Report on IRON

About Disc Medicine

(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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