Disc Medicine (NASDAQ:IRON) Shares Gap Up – Time to Buy?

Disc Medicine, Inc. (NASDAQ:IRON)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $50.92, but opened at $52.25. Disc Medicine shares last traded at $50.35, with a volume of 61,029 shares.

Wall Street Analysts Forecast Growth

IRON has been the subject of a number of recent research reports. Scotiabank assumed coverage on shares of Disc Medicine in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $62.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Jefferies Financial Group started coverage on shares of Disc Medicine in a research note on Wednesday. They set a “buy” rating and a $89.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $66.40.

Disc Medicine Stock Performance

The firm’s 50-day moving average price is $48.96 and its two-hundred day moving average price is $41.96. The firm has a market cap of $1.14 billion, a PE ratio of -13.61 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts predict that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

A number of large investors have recently bought and sold shares of IRON. Amalgamated Bank lifted its position in Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Disc Medicine in the 2nd quarter valued at approximately $129,000. ProShare Advisors LLC acquired a new position in Disc Medicine during the 1st quarter worth approximately $211,000. Finally, SG Americas Securities LLC grew its holdings in Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock worth $183,000 after acquiring an additional 1,247 shares during the period. 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.