Disc Medicine (NASDAQ:IRON) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Disc Medicine (NASDAQ:IRON) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

IRON has been the topic of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Disc Medicine in a research report on Tuesday, September 1st. Jefferies Financial Group restated a “buy” rating and issued a $128.00 target price on shares of Disc Medicine in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Disc Medicine in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a report on Friday, July 17th. Finally, Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Disc Medicine in a research report on Thursday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.55.

Disc Medicine Stock Performance

Disc Medicine stock opened at $70.06 on Friday. The firm’s 50 day simple moving average is $77.80 and its 200-day simple moving average is $70.84. The company has a market cap of $2.69 billion, a P/E ratio of -10.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. Disc Medicine has a fifty-two week low of $40.00 and a fifty-two week high of $99.50.

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

Insider Activity at Disc Medicine

In other Disc Medicine news, Director Kevin Bitterman sold 49,164 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $80.17, for a total value of $3,941,477.88. Following the completion of the sale, the director 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 Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jonathan Yu sold 18,612 shares of Disc Medicine stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $69.19, for a total transaction of $1,287,764.28. Following the sale, the chief operating officer directly owned 54,324 shares of the company’s stock, valued at $3,758,677.56. This trade represents a 25.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 209,797 shares of company stock valued at $15,934,791. Company insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Disc Medicine

A number of hedge funds have recently modified their holdings of IRON. California State Teachers Retirement System increased its position in Disc Medicine by 8,273.0% in the 2nd 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 last quarter. BlackRock Inc. purchased a new stake in shares of Disc Medicine during the 2nd quarter worth about $180,502,000. JPMorgan Chase & Co. lifted its holdings in shares of Disc Medicine by 110.0% during the 4th 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 last quarter. BVF Inc. IL acquired a new stake in shares of Disc Medicine during the 4th quarter valued at about $51,616,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Disc Medicine in the 4th quarter valued at approximately $35,794,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.