Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) 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 – Get Free Report) 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
Check Out Our Latest Stock Analysis on IRON
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.
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