Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Down 6.9% in October

Disc Medicine, Inc. (NASDAQ:IRON) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a decrease of 6.9% from the September 30th total of 1,590,000 shares. Based on an average trading volume of 215,400 shares, the short-interest ratio is presently 6.9 days. Approximately 9.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Disc Medicine

Several hedge funds have recently bought and sold shares of the company. Amalgamated Bank increased its stake in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company’s stock valued at $26,000 after purchasing an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. SG Americas Securities LLC increased its stake in Disc Medicine by 19.5% in the 3rd quarter. SG Americas Securities LLC now owns 4,864 shares of the company’s stock valued at $239,000 after purchasing an additional 793 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Disc Medicine by 23.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company’s stock valued at $285,000 after purchasing an additional 856 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Disc Medicine by 3.7% in the 2nd quarter. TD Asset Management Inc now owns 40,732 shares of the company’s stock valued at $1,836,000 after purchasing an additional 1,468 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Disc Medicine Trading Down 0.7 %

Shares of IRON stock opened at $45.60 on Thursday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -13.49 and a beta of 0.59. The stock has a 50 day simple moving average of $48.71 and a 200-day simple moving average of $42.43. Disc Medicine has a 12-month low of $25.60 and a 12-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, beating the consensus estimate of ($1.11) by $0.08. On average, equities analysts forecast that Disc Medicine will post -4.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on IRON. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Disc Medicine in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Jefferies Financial Group began coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a “buy” rating and a $89.00 price objective for the company. Wells Fargo & Company began coverage on Disc Medicine in a research note on Thursday, August 22nd. They set an “overweight” rating and a $75.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research note on Monday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Disc Medicine has an average rating of “Moderate Buy” and an average target price of $66.40.

Disc Medicine Company Profile

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.