Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Up 9.6% in August

Disc Medicine, Inc. (NASDAQ:IRON) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,480,000 shares, an increase of 9.6% from the August 15th total of 1,350,000 shares. Based on an average daily volume of 297,200 shares, the days-to-cover ratio is presently 5.0 days. Currently, 9.6% of the company’s shares are sold short.

Disc Medicine Stock Performance

Shares of IRON stock traded up $0.30 during mid-day trading on Wednesday, hitting $47.65. 147,939 shares of the stock traded hands, compared to its average volume of 356,980. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -14.28 and a beta of 0.59. The company’s 50-day simple moving average is $46.97 and its 200-day simple moving average is $43.43. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping the consensus estimate of ($1.11) by $0.08. Analysts forecast that Disc Medicine will post -4.19 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on IRON. Wedbush restated an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a research note on Monday. 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 note on Monday, June 17th. Wells Fargo & Company initiated coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.13.

Institutional Investors Weigh In On Disc Medicine

Several large investors have recently made changes to their positions in IRON. Teachers Retirement System of The State of Kentucky acquired a new position in Disc Medicine during the second quarter valued at approximately $636,000. Nantahala Capital Management LLC bought a new stake in shares of Disc Medicine in the second quarter valued at approximately $6,760,000. Algert Global LLC acquired a new position in Disc Medicine during the 2nd quarter valued at $239,000. Frazier Life Sciences Management L.P. raised its position in shares of Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the last quarter. Finally, Blue Owl Capital Holdings LP lifted its position in shares of Disc Medicine by 38.6% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 215,260 shares of the company’s stock worth $9,702,000 after acquiring an additional 60,000 shares during the period. Institutional investors own 83.70% of the company’s stock.

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.