Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Down 5.4% in September

Disc Medicine, Inc. (NASDAQ:IRON) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,400,000 shares, a drop of 5.4% from the August 31st total of 1,480,000 shares. Approximately 9.0% of the company’s stock are short sold. Based on an average daily trading volume, of 254,500 shares, the short-interest ratio is currently 5.5 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC boosted its stake in shares of Disc Medicine by 14.2% during the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after buying an additional 127,404 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of Disc Medicine by 19.8% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after purchasing an additional 130,000 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Disc Medicine during the 1st quarter worth approximately $7,429,000. Jennison Associates LLC boosted its holdings in shares of Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company’s stock valued at $12,031,000 after buying an additional 150,209 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Disc Medicine by 59.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after buying an additional 353,382 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a report on Friday, September 20th. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Disc Medicine in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday, September 16th. Wells Fargo & Company started coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 price objective on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 price target (up from $50.00) on shares of Disc Medicine in a research report on Monday, June 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average target price of $64.13.

Disc Medicine Trading Down 1.9 %

Shares of IRON stock traded down $0.93 on Monday, reaching $49.14. The company had a trading volume of 168,370 shares, compared to its average volume of 353,457. Disc Medicine has a 12 month low of $25.60 and a 12 month high of $77.60. The stock has a market cap of $1.21 billion, a PE ratio of -14.54 and a beta of 0.59. The company has a 50-day moving average of $47.19 and a 200-day moving average of $42.30.

Disc Medicine (NASDAQ:IRON) last posted 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. Sell-side analysts anticipate that Disc Medicine will post -4.19 earnings per share for the current year.

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.