Disc Medicine, Inc. (NASDAQ:IRON – Get Free Report) was down 7.5% on Tuesday after Morgan Stanley lowered their price target on the stock from $75.00 to $40.00. Morgan Stanley currently has an equal weight rating on the stock. Disc Medicine traded as low as $30.86 and last traded at $31.64. Approximately 96,660 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 381,065 shares. The stock had previously closed at $34.21.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Disc Medicine from $104.00 to $71.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a research note on Wednesday, December 20th. BMO Capital Markets dropped their target price on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research note on Monday. Finally, Raymond James reiterated an “outperform” rating and issued a $40.00 target price (down previously from $75.00) on shares of Disc Medicine in a research note on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.
Insiders Place Their Bets
In other news, Director Kevin Bitterman sold 102,500 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $6,934,125.00. Following the completion of the sale, the director now directly owns 198,326 shares of the company’s stock, valued at $13,416,753.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Venture Fund X. L.P. Atlas sold 47,500 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $67.65, for a total value of $3,213,375.00. Following the completion of the sale, the insider now directly owns 1,402,186 shares of the company’s stock, valued at $94,857,882.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Bitterman sold 102,500 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $67.65, for a total transaction of $6,934,125.00. Following the completion of the sale, the director now directly owns 198,326 shares of the company’s stock, valued at $13,416,753.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,000 shares of company stock worth $13,347,500. Company insiders own 4.71% of the company’s stock.
Hedge Funds Weigh In On Disc Medicine
Several institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. lifted its position in Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after purchasing an additional 145,781 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Disc Medicine by 14.2% in the 4th quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of Disc Medicine by 19.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock worth $45,342,000 after acquiring an additional 130,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Disc Medicine by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock worth $44,160,000 after acquiring an additional 99,092 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in shares of Disc Medicine by 280.4% in the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after acquiring an additional 480,082 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.
Disc Medicine Stock Performance
The company’s fifty day moving average price is $64.16 and its 200-day moving average price is $57.00. The stock has a market cap of $773.32 million, a P/E ratio of -9.18 and a beta of 0.18.
Disc Medicine (NASDAQ:IRON – Get Free Report) last released its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). Analysts anticipate that Disc Medicine, Inc. will post -4.37 earnings per share for the current fiscal year.
About Disc Medicine
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.