Disc Medicine (NASDAQ:IRON) Stock Price Down 5%

Disc Medicine, Inc. (NASDAQ:IRON) shares dropped 5% during trading on Monday . The stock traded as low as $45.72 and last traded at $45.72. Approximately 77,313 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 358,175 shares. The stock had previously closed at $48.11.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IRON. Wells Fargo & Company assumed coverage on Disc Medicine in a report on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $70.00 price objective (up previously from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 target price on shares of Disc Medicine in a report on Friday. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Disc Medicine in a research note on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.13.

Disc Medicine Price Performance

The stock’s 50-day simple moving average is $47.05 and its two-hundred day simple moving average is $42.98. The firm has a market capitalization of $1.16 billion, a P/E ratio of -13.25 and a beta of 0.59.

Disc Medicine (NASDAQ:IRON) last issued its earnings results 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. On average, analysts forecast that Disc Medicine, Inc. will post -4.19 earnings per share for the current fiscal year.

Institutional Trading of Disc Medicine

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank boosted its stake in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after purchasing an additional 247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Disc Medicine during the second quarter valued at $129,000. SG Americas Securities LLC grew its stake in Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company’s stock valued at $183,000 after acquiring an additional 1,247 shares in the last quarter. ProShare Advisors LLC bought a new stake in Disc Medicine in the 1st quarter valued at $211,000. Finally, Fiduciary Trust Co purchased a new stake in Disc Medicine in the 4th quarter worth $234,000. 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.