Disc Medicine (NASDAQ:IRON) Shares Gap Down – Time to Sell?

Disc Medicine, Inc. (NASDAQ:IRON)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $77.08, but opened at $72.47. Disc Medicine shares last traded at $71.8480, with a volume of 222,183 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IRON shares. Raymond James Financial restated a “strong-buy” rating and set a $117.00 target price on shares of Disc Medicine in a report on Monday, December 8th. Wells Fargo & Company upped their target price on Disc Medicine from $91.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. National Bankshares set a $153.00 price target on Disc Medicine in a research report on Friday, October 17th. Truist Financial increased their price objective on shares of Disc Medicine from $86.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Cantor Fitzgerald boosted their target price on shares of Disc Medicine from $132.00 to $153.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.45.

Disc Medicine Stock Down 6.0%

The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -13.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a current ratio of 23.45 and a quick ratio of 23.45. The firm’s fifty day moving average is $86.13 and its 200-day moving average is $72.30.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, November 6th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.48) by ($0.29). On average, sell-side analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In related news, Director Kevin Bitterman sold 754 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $91.47, for a total transaction of $68,968.38. Following the sale, the director owned 14,013 shares in the company, valued at $1,281,769.11. This represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jonathan Yen-Wen Yu sold 30,000 shares of Disc Medicine stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $84.70, for a total value of $2,541,000.00. Following the completion of the transaction, the chief operating officer owned 40,555 shares of the company’s stock, valued at approximately $3,435,008.50. The trade was a 42.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 344,470 shares of company stock worth $31,120,130. 3.64% of the stock is owned by company insiders.

Institutional Trading of Disc Medicine

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Disc Medicine by 22.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after acquiring an additional 2,807 shares during the period. Millennium Management LLC lifted its holdings in Disc Medicine by 1,277.1% in the first quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after purchasing an additional 100,620 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Disc Medicine by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after buying an additional 3,454 shares in the last quarter. Strs Ohio bought a new position in shares of Disc Medicine in the first quarter valued at approximately $347,000. Finally, Rhumbline Advisers increased its stake in shares of Disc Medicine by 10.7% during the first quarter. Rhumbline Advisers now owns 32,144 shares of the company’s stock valued at $1,596,000 after acquiring an additional 3,108 shares during the period. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.