Insider Selling: Disc Medicine (NASDAQ:IRON) Director Sells $135,052.44 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 1,689 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $79.96, for a total value of $135,052.44. Following the transaction, the director owned 13,427 shares of the company’s stock, valued at approximately $1,073,622.92. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Bitterman also recently made the following trade(s):

• On Thursday, September 3rd, Kevin Bitterman sold 5,203 shares of Disc Medicine stock. The shares were sold at an average price of $79.98, for a total value of $416,135.94.
• On Wednesday, September 2nd, Kevin Bitterman sold 49,164 shares of Disc Medicine stock. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88.
• On Tuesday, September 1st, Kevin Bitterman sold 129 shares of Disc Medicine stock. The stock was sold at an average price of $79.95, for a total transaction of $10,313.55.

Disc Medicine Trading Down 5.5%

Shares of IRON stock opened at $70.06 on Friday. Disc Medicine, Inc. has a 1 year low of $40.00 and a 1 year high of $99.50. The firm’s fifty day simple moving average is $77.80 and its 200 day simple moving average is $70.84. The firm has a market capitalization of $2.69 billion, a P/E ratio of -10.65 and a beta of 0.97. The company has a current ratio of 24.14, a quick ratio of 24.14 and a debt-to-equity ratio of 0.09.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results 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 predict that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Analyst Ratings Changes

IRON has been the topic of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Disc Medicine in a research report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $128.00 price target on shares of Disc Medicine in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a research report on Tuesday, September 1st. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Disc Medicine in a report on Thursday. Finally, Wall Street Zen upgraded Disc Medicine from a “sell” rating to a “hold” rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Disc Medicine presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its stake in Disc Medicine by 8,273.0% during the second quarter. California State Teachers Retirement System now owns 2,878,790 shares of the company’s stock worth $210,555,000 after purchasing an additional 2,844,408 shares during the period. BlackRock Inc. bought a new stake in shares of Disc Medicine in the 2nd quarter valued at approximately $180,502,000. RA Capital Management L.P. lifted its position in shares of Disc Medicine by 25.3% during the 4th quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock worth $156,925,000 after buying an additional 399,026 shares during the period. Vanguard Group Inc. lifted its position in shares of Disc Medicine by 22.1% during the 4th quarter. Vanguard Group Inc. now owns 1,767,680 shares of the company’s stock worth $140,371,000 after buying an additional 319,621 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Disc Medicine by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock valued at $127,362,000 after buying an additional 5,975 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving red blood cell production, iron metabolism and related biological pathways, with the goal of addressing conditions that often have limited treatment options.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule inhibitor of glycine transporter 1. The company is evaluating bitopertin in diseases including erythropoietic protoporphyria, a rare disorder characterized by abnormal accumulation of protoporphyrin that can cause severe sensitivity to sunlight.