Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells $10,974,506.34 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 202,146 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $54.29, for a total value of $10,974,506.34. Following the sale, the director now owns 208,742 shares of the company’s stock, valued at approximately $11,332,603.18. This represents a 49.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Mona Ashiya also recently made the following trade(s):

• On Wednesday, March 12th, Mona Ashiya sold 83,182 shares of Disc Medicine stock. The stock was sold at an average price of $54.45, for a total value of $4,529,259.90.

Disc Medicine Stock Performance

Disc Medicine stock opened at $51.02 on Friday. The business’s 50-day simple moving average is $56.16 and its 200-day simple moving average is $55.92. The firm has a market capitalization of $1.76 billion, a PE ratio of -12.82 and a beta of 0.73. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $68.86.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.08. Research analysts forecast that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Disc Medicine during the fourth quarter worth about $40,000. Tower Research Capital LLC TRC grew its position in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after buying an additional 266 shares in the last quarter. Quest Partners LLC acquired a new stake in Disc Medicine during the third quarter worth about $131,000. Finally, Quantbot Technologies LP acquired a new stake in Disc Medicine during the third quarter worth about $146,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IRON shares. TD Cowen started coverage on Disc Medicine in a report on Thursday, February 27th. They set a “buy” rating on the stock. Wedbush restated an “outperform” rating and set a $90.00 target price (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Scotiabank raised their target price on Disc Medicine from $73.00 to $75.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Stifel Nicolaus raised their target price on Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday, March 7th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $89.10.

Disc Medicine Company Profile

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.