Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Drops By 5.4%

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,400,000 shares, a decline of 5.4% from the August 31st total of 1,480,000 shares. Currently, 9.0% of the shares of the company are sold short. Based on an average trading volume of 254,500 shares, the short-interest ratio is presently 5.5 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRON. Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Disc Medicine in a report on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research report on Monday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Friday, September 20th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Moderate Buy” and an average price target of $64.13.

Disc Medicine Stock Up 7.3 %

NASDAQ:IRON opened at $52.73 on Wednesday. The firm has a market cap of $1.30 billion, a PE ratio of -15.60 and a beta of 0.59. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The company’s 50-day moving average price is $47.33 and its two-hundred day moving average price is $42.24.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 8th. The company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.11) by $0.08. On average, research analysts expect that Disc Medicine will post -4.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors and hedge funds have recently bought and sold shares of IRON. Amalgamated Bank increased its stake in shares of Disc Medicine by 76.9% in the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after buying an additional 247 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Disc Medicine in the 2nd quarter valued at about $129,000. SG Americas Securities LLC increased its position in Disc Medicine by 44.2% in the 2nd quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after acquiring an additional 1,247 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Disc Medicine in the first quarter worth about $211,000. Finally, Fiduciary Trust Co acquired a new position in shares of Disc Medicine during the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.