Disc Medicine (NASDAQ:IRON) Stock Price Down 5% – What’s Next?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) fell 5% on Friday . The stock traded as low as $70.27 and last traded at $70.4450. Approximately 164,058 shares were traded during trading, a decline of 71% from the average session volume of 563,333 shares. The stock had previously closed at $74.14.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IRON shares. HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Disc Medicine in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. Jefferies Financial Group restated a “buy” rating and set a $128.00 target price on shares of Disc Medicine in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a report on Tuesday, September 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $90.00 price objective on shares of Disc Medicine in a research report on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.55.

Disc Medicine Stock Performance

The company has a quick ratio of 24.14, a current ratio of 24.14 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.69 billion, a P/E ratio of -10.65 and a beta of 0.97. The stock has a fifty day moving average of $77.80 and a 200-day moving average of $70.84.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, July 30th. The company reported ($1.54) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.17. On average, research analysts anticipate that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Insider Buying and Selling at Disc Medicine

In other news, Director Kevin Bitterman sold 49,164 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total transaction of $3,941,477.88. Following the completion of the transaction, the director directly owned 13,499 shares in the company, valued at $1,082,214.83. This represents a 78.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rahul Khara sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider owned 52,173 shares in the company, valued at $3,663,588.06. The trade was a 12.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 209,797 shares of company stock worth $15,934,791. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings 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 Disc Medicine in the second quarter valued at approximately $180,502,000. JPMorgan Chase & Co. raised its stake in Disc Medicine by 110.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock valued at $125,557,000 after buying an additional 828,248 shares during the period. BVF Inc. IL acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $51,616,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Disc Medicine in the fourth quarter valued at approximately $35,794,000. 83.70% of the stock is owned by institutional investors.

About Disc Medicine

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.