Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,000,000 shares, a growth of 6.4% from the May 31st total of 1,880,000 shares. Currently, 11.5% of the shares of the stock are sold short. Based on an average trading volume of 516,100 shares, the days-to-cover ratio is presently 3.9 days.

Disc Medicine Price Performance

Disc Medicine stock opened at $44.43 on Friday. The firm has a 50 day simple moving average of $36.45 and a 200-day simple moving average of $49.87. Disc Medicine has a 1-year low of $25.60 and a 1-year high of $77.60. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -13.14 and a beta of 0.57.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.09). Equities analysts expect that Disc Medicine will post -4.47 earnings per share for the current fiscal year.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its position in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after purchasing an additional 400 shares during the period. AJOVista LLC purchased a new position in shares of Disc Medicine during the 4th quarter worth approximately $63,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Disc Medicine during the 4th quarter worth approximately $161,000. ProShare Advisors LLC purchased a new position in shares of Disc Medicine during the 1st quarter worth approximately $211,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Disc Medicine during the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Stifel Nicolaus lifted their price objective on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Tuesday, May 28th. Finally, HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.57.

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.