Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) Insider Sells $928,277.35 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 14,183 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $65.45, for a total value of $928,277.35. Following the sale, the insider now owns 40,405 shares in the company, valued at approximately $2,644,507.25. The trade was a 25.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

William Jacob Savage also recently made the following trade(s):

• On Friday, November 15th, William Jacob Savage sold 9,158 shares of Disc Medicine stock. The shares were sold at an average price of $59.64, for a total value of $546,183.12.

Disc Medicine Trading Up 3.0 %

Disc Medicine stock opened at $64.55 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of -16.22 and a beta of 0.60. The stock has a fifty day moving average price of $53.42 and a 200 day moving average price of $46.92. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.15. As a group, equities analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after acquiring an additional 337 shares during the last quarter. Quest Partners LLC acquired a new stake in Disc Medicine during the third quarter worth about $131,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine in the second quarter worth about $129,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the third quarter worth about $146,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. HC Wainwright upped their price objective on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Tuesday, November 5th. Wedbush restated an “outperform” rating and issued a $83.00 price objective (up from $75.00) on shares of Disc Medicine in a research report on Tuesday, November 12th. Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, Scotiabank upped their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $85.80.

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.