Disc Medicine (NASDAQ:IRON) Shares Down 4.1%

Disc Medicine, Inc. (NASDAQ:IRON)’s share price traded down 4.1% on Friday . The stock traded as low as $28.61 and last traded at $28.78. 46,547 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 415,544 shares. The stock had previously closed at $30.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $43.00 target price (down from $84.00) on shares of Disc Medicine in a report on Monday, April 1st. Stifel Nicolaus lifted their price target on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Raymond James reaffirmed an “outperform” rating and set a $40.00 price target (down from $75.00) on shares of Disc Medicine in a report on Monday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday, April 1st. Finally, Morgan Stanley decreased their price target on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.29.

Disc Medicine Stock Performance

The company has a 50-day simple moving average of $55.78 and a 200-day simple moving average of $55.39.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). Sell-side analysts forecast that Disc Medicine, Inc. will post -4.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total value of $3,213,375.00. Following the sale, the insider now owns 1,402,186 shares in the company, valued at approximately $94,857,882.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Disc Medicine news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $3,213,375.00. Following the sale, the insider now owns 1,402,186 shares in the company, valued at approximately $94,857,882.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kevin Bitterman sold 102,500 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $6,934,125.00. Following the sale, the director now owns 198,326 shares in the company, valued at approximately $13,416,753.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,560 shares of company stock worth $10,228,908. Company insiders own 4.71% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds and other institutional investors have recently bought and sold shares of IRON. PNC Financial Services Group Inc. lifted its holdings in shares of Disc Medicine by 149.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,000 shares of the company’s stock valued at $578,000 after acquiring an additional 5,990 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Disc Medicine by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock valued at $44,160,000 after acquiring an additional 99,092 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Disc Medicine by 224.6% during the 4th quarter. Wellington Management Group LLP now owns 177,726 shares of the company’s stock valued at $10,265,000 after acquiring an additional 122,981 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Disc Medicine by 127.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 62,175 shares of the company’s stock valued at $3,591,000 after acquiring an additional 34,821 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Disc Medicine during the 4th quarter valued at $797,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

About Disc Medicine

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.