Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Director Sells 39,656 Shares of Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Mona Ashiya sold 39,656 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.02, for a total transaction of $2,142,217.12. Following the completion of the sale, the director now owns 188,981 shares in the company, valued at $10,208,753.62. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, March 21st, Mona Ashiya sold 10,011 shares of Disc Medicine stock. The shares were sold at an average price of $54.00, for a total value of $540,594.00.
• 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.
• On Monday, March 10th, Mona Ashiya sold 202,146 shares of Disc Medicine stock. The stock was sold at an average price of $54.29, for a total transaction of $10,974,506.34.

Disc Medicine Trading Down 1.9 %

NASDAQ IRON traded down $0.99 during trading hours on Friday, reaching $52.24. 1,082,703 shares of the company traded hands, compared to its average volume of 360,836. The stock has a market capitalization of $1.81 billion, a PE ratio of -13.13 and a beta of 0.73. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $68.73. The company has a 50 day moving average of $55.26 and a two-hundred day moving average of $56.02.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.08. On average, equities research analysts anticipate that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research report on Friday, March 7th. Scotiabank raised their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. TD Cowen initiated coverage on shares of Disc Medicine in a research note on Thursday, February 27th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald increased their price objective on shares of Disc Medicine from $99.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus target price of $93.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new stake in shares of Disc Medicine during the 4th quarter valued at about $40,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Disc Medicine by 399.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,103 shares of the company’s stock valued at $5,903,000 after purchasing an additional 74,454 shares during the last quarter. Woodline Partners LP raised its position in shares of Disc Medicine by 5.2% during the 4th quarter. Woodline Partners LP now owns 396,600 shares of the company’s stock worth $25,144,000 after purchasing an additional 19,538 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Disc Medicine by 26.5% in the 4th quarter. ProShare Advisors LLC now owns 6,966 shares of the company’s stock worth $442,000 after purchasing an additional 1,458 shares during the last quarter. Finally, MPM Bioimpact LLC boosted its position in Disc Medicine by 11.1% during the 4th quarter. MPM Bioimpact LLC now owns 346,401 shares of the company’s stock valued at $21,962,000 after purchasing an additional 34,640 shares during the period. 83.70% of the stock is currently owned by 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.