Disc Medicine, Inc. (NASDAQ:IRON) CFO Sells $171,162.88 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CFO Jean M. Franchi sold 3,136 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the transaction, the chief financial officer now directly owns 69,530 shares in the company, valued at $3,794,947.40. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Disc Medicine Stock Performance

IRON stock opened at $54.52 on Friday. The stock has a fifty day moving average of $59.05 and a 200-day moving average of $55.10. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -13.70 and a beta of 0.73.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently added to or reduced their stakes in IRON. Tower Research Capital LLC TRC increased its stake in shares of Disc Medicine by 47.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares during the period. Teacher Retirement System of Texas grew its stake in Disc Medicine by 8.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,857 shares of the company’s stock valued at $308,000 after buying an additional 396 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock valued at $36,000 after acquiring an additional 503 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Disc Medicine by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,310 shares of the company’s stock worth $400,000 after acquiring an additional 593 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on IRON. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Scotiabank lifted their price target on Disc Medicine from $70.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Wednesday, January 22nd. Wedbush reissued an “outperform” rating and issued a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Tuesday, November 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $88.90.

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.