Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report)’s share price was down 4.8% on Tuesday . The stock traded as low as $66.50 and last traded at $66.74. Approximately 95,175 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 244,260 shares. The stock had previously closed at $70.08.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Morgan Stanley downgraded Disc Medicine from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $56.00 to $65.00 in a research note on Tuesday, December 19th. Wedbush reiterated an “outperform” rating and issued a $79.00 target price on shares of Disc Medicine in a report on Tuesday, January 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a research note on Wednesday, December 20th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Disc Medicine has an average rating of “Buy” and a consensus price target of $64.56.
Disc Medicine Trading Down 5.2 %
The firm has a 50-day simple moving average of $60.75 and a 200-day simple moving average of $53.49.
Disc Medicine (NASDAQ:IRON – Get Free Report) last announced its earnings results on Thursday, November 9th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.17. As a group, sell-side analysts forecast that Disc Medicine, Inc. will post -3.24 EPS for the current year.
Insider Buying and Selling
In other news, General Counsel Rahul Khara sold 4,900 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $50.61, for a total transaction of $247,989.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Disc Medicine news, CFO Joanne Bryce sold 2,541 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $56.00, for a total value of $142,296.00. Following the completion of the sale, the chief financial officer now owns 2,500 shares in the company, valued at $140,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Rahul Khara sold 4,900 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $50.61, for a total transaction of $247,989.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 355,441 shares of company stock worth $22,702,933. Corporate insiders own 4.71% of the company’s stock.
Hedge Funds Weigh In On Disc Medicine
Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Disc Medicine by 36.4% in the fourth quarter. Victory Capital Management Inc. now owns 187,580 shares of the company’s stock valued at $10,835,000 after acquiring an additional 50,057 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Disc Medicine by 194.1% in the 4th quarter. New York State Common Retirement Fund now owns 9,686 shares of the company’s stock worth $559,000 after buying an additional 6,393 shares during the period. Jennison Associates LLC bought a new position in shares of Disc Medicine in the 4th quarter worth about $2,485,000. Strs Ohio boosted its stake in Disc Medicine by 66.7% during the fourth quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $57,000 after acquiring an additional 400 shares in the last quarter. Finally, Simplicity Solutions LLC bought a new stake in shares of Disc Medicine in the 4th quarter worth approximately $215,000.
Disc Medicine Company Profile
Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.