Disc Medicine (NASDAQ:IRON) Stock Price Down 3% – What’s Next?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) dropped 3% on Friday . The stock traded as low as $61.07 and last traded at $61.07. Approximately 29,558 shares changed hands during trading, a decline of 91% from the average daily volume of 345,359 shares. The stock had previously closed at $62.95.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IRON. Wedbush reissued an “outperform” rating and issued a $83.00 price target on shares of Disc Medicine in a report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a research note on Monday, December 9th. Scotiabank raised their price target 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. Stifel Nicolaus upped their price objective on shares of Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Raymond James upgraded Disc Medicine from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $87.50.

Disc Medicine Price Performance

The firm has a market cap of $1.92 billion, a PE ratio of -16.21 and a beta of 0.76. The business’s 50 day moving average price is $58.83 and its 200 day moving average price is $50.53.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings data 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, analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 7,136 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Jacob Savage sold 9,158 shares of Disc Medicine stock in a transaction that occurred 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 owns 40,405 shares in the company, valued at approximately $2,409,754.20. The trade was a 18.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,627 shares of company stock valued at $2,883,150. 4.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IRON. SG Americas Securities LLC increased its position 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 purchasing an additional 1,247 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Disc Medicine by 89.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 51,050 shares of the company’s stock worth $2,301,000 after buying an additional 24,094 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine during the 2nd quarter valued at approximately $129,000. Rhumbline Advisers lifted its holdings in Disc Medicine by 86.2% in the second quarter. Rhumbline Advisers now owns 24,447 shares of the company’s stock valued at $1,102,000 after acquiring an additional 11,315 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Disc Medicine by 3.7% in the second quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock worth $1,836,000 after acquiring an additional 1,468 shares during the period. Hedge funds and other 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.