William Jacob Savage Sells 9,158 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider William Jacob Savage sold 9,158 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $59.64, for a total value of $546,183.12. Following the transaction, the insider now directly owns 40,405 shares of the company’s stock, valued at $2,409,754.20. This trade represents a 18.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $59.55 on Wednesday. Disc Medicine, Inc. has a 52 week low of $25.60 and a 52 week high of $77.60. The firm has a market cap of $1.77 billion, a PE ratio of -14.96 and a beta of 0.60. The firm’s fifty day moving average is $51.51 and its 200-day moving average is $45.61.

Disc Medicine (NASDAQ:IRON) last announced its 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. Sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Institutional Trading of Disc Medicine

Institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. lifted its position in shares of Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after purchasing an additional 969,834 shares during the period. Logos Global Management LP bought a new position in Disc Medicine during the second quarter worth $41,690,000. Point72 Asset Management L.P. acquired a new position in Disc Medicine in the second quarter valued at $34,318,000. Deerfield Management Company L.P. Series C boosted its position in Disc Medicine by 53.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James raised Disc Medicine from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, October 15th. Scotiabank raised their target price on shares of Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley upgraded shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Tuesday, November 5th. Finally, HC Wainwright raised their price objective on Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.