Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Increases By 6.4%

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a significant growth in short interest during 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. Based on an average daily volume of 516,100 shares, the days-to-cover ratio is presently 3.9 days. Approximately 11.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IRON shares. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, May 28th. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research report on Friday, June 14th. Wedbush restated an “outperform” rating and issued a $57.00 price target (up from $43.00) on shares of Disc Medicine in a research report on Friday, June 14th. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Raymond James increased their target price on shares of Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.57.

Disc Medicine Stock Up 6.8 %

IRON stock opened at $44.43 on Thursday. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -13.14 and a beta of 0.57. The business’s fifty day simple moving average is $36.10 and its two-hundred day simple moving average is $49.91.

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

Insider Transactions at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.24% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of institutional investors have recently modified their holdings of the stock. Strs Ohio lifted its holdings in shares of Disc Medicine by 66.7% in the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after buying an additional 400 shares during the period. Bleakley Financial Group LLC lifted its stake in Disc Medicine by 23.0% in the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock worth $285,000 after acquiring an additional 856 shares during the period. AJOVista LLC bought a new position in Disc Medicine during the 4th quarter worth about $63,000. China Universal Asset Management Co. Ltd. grew its holdings in Disc Medicine by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,641 shares of the company’s stock worth $289,000 after acquiring an additional 1,848 shares in the last quarter. Finally, Alps Advisors Inc. increased its position in Disc Medicine by 16.1% during the 3rd quarter. Alps Advisors Inc. now owns 16,900 shares of the company’s stock valued at $794,000 after purchasing an additional 2,346 shares during the period. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.