Insider Selling: Disc Medicine (NASDAQ:IRON) CEO Sells $2,611,950.00 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John Quisel sold 33,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $79.15, for a total value of $2,611,950.00. Following the sale, the chief executive officer owned 226,064 shares of the company’s stock, valued at $17,892,965.60. This represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Disc Medicine Stock Up 0.2%

Shares of NASDAQ:IRON traded up $0.15 during trading on Tuesday, hitting $80.20. The company’s stock had a trading volume of 336,995 shares, compared to its average volume of 574,631. The company has a debt-to-equity ratio of 0.09, a quick ratio of 24.14 and a current ratio of 24.14. Disc Medicine, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The stock’s 50-day moving average price is $74.89 and its two-hundred day moving average price is $69.89. The company has a market capitalization of $307.17 million, a PE ratio of -12.19 and a beta of 1.00.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.17. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IRON. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Disc Medicine by 22.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after purchasing an additional 2,807 shares during the last quarter. Millennium Management LLC lifted its position in shares of Disc Medicine by 1,277.1% in the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock worth $5,386,000 after buying an additional 100,620 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 during the period. Legal & General Group Plc boosted its holdings in shares of Disc Medicine by 18.0% in the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock valued at $1,276,000 after buying an additional 3,682 shares during the period. Finally, Invesco Ltd. grew its position in shares of Disc Medicine by 21.6% during the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock valued at $891,000 after buying an additional 2,983 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Wall Street Zen raised shares of Disc Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. HC Wainwright increased their price objective on shares of Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating and set a $90.00 price objective on shares of Disc Medicine in a report on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $88.00 target price on shares of Disc Medicine in a research report on Wednesday, June 10th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.50.

About Disc Medicine

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.