Rahul Khara Sells 7,500 Shares of Disc Medicine, Inc. (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.75, for a total value of $470,625.00. Following the completion of the transaction, the insider now owns 14,035 shares in the company, valued at $880,696.25. This trade represents a 34.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Disc Medicine Stock Performance

Shares of IRON stock opened at $62.00 on Wednesday. Disc Medicine, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $77.60. The firm has a market capitalization of $1.84 billion, a PE ratio of -15.58 and a beta of 0.75. The stock’s 50-day simple moving average is $62.53 and its 200-day simple moving average is $52.59.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.15. Sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

IRON has been the topic of a number of analyst reports. Raymond James raised shares of Disc Medicine from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $66.00 to $110.00 in a research report on Monday, November 4th. Stifel Nicolaus upped their price target on Disc Medicine from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Scotiabank raised their price objective on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Tuesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a research note on Monday, December 9th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Disc Medicine currently has a consensus rating of “Buy” and an average price target of $87.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Disc Medicine by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company’s stock valued at $799,000 after buying an additional 2,257 shares during the last quarter. Exome Asset Management LLC raised its position in Disc Medicine by 5.8% during the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company’s stock valued at $3,170,000 after acquiring an additional 3,516 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Disc Medicine by 38.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company’s stock valued at $961,000 after acquiring an additional 5,458 shares during the period. Geode Capital Management LLC boosted its position in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company’s stock worth $23,333,000 after purchasing an additional 70,983 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Disc Medicine by 123.7% during the 3rd quarter. Barclays PLC now owns 40,145 shares of the company’s stock worth $1,972,000 after purchasing an additional 22,202 shares during the period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.