Disc Medicine (NASDAQ:IRON) Price Target Cut to $83.00 by Analysts at Truist Financial

Disc Medicine (NASDAQ:IRON) had its price objective reduced by analysts at Truist Financial from $114.00 to $83.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 24.71% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a report on Wednesday, January 21st. Morgan Stanley set a $75.00 target price on Disc Medicine in a research note on Tuesday, February 17th. BMO Capital Markets dropped their price target on Disc Medicine from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Wedbush lowered their price objective on Disc Medicine from $110.00 to $88.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Cantor Fitzgerald lowered their price target on shares of Disc Medicine from $153.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Eleven 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Disc Medicine Price Performance

IRON traded down $1.36 on Friday, reaching $66.56. The company had a trading volume of 75,507 shares, compared to its average volume of 755,119. The company has a fifty day moving average of $74.70 and a 200-day moving average of $75.34. Disc Medicine has a one year low of $30.82 and a one year high of $99.50. The company has a market capitalization of $2.51 billion, a P/E ratio of -12.44 and a beta of 0.88. The company has a current ratio of 23.45, a quick ratio of 23.45 and a debt-to-equity ratio of 0.05.

Disc Medicine (NASDAQ:IRON) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.69) by $0.07. The business had revenue of ($19.88) million for the quarter, compared to analysts’ expectations of $0.15 million. As a group, equities research analysts anticipate that Disc Medicine will post -4.07 earnings per share for the current year.

Insider Buying and Selling at Disc Medicine

In other news, insider Rahul Khara sold 6,500 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $78.69, for a total transaction of $511,485.00. Following the transaction, the insider directly owned 37,793 shares of the company’s stock, valued at $2,973,931.17. This represents a 14.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Jacob Savage sold 13,093 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $91.22, for a total value of $1,194,343.46. Following the sale, the insider owned 75,702 shares of the company’s stock, valued at approximately $6,905,536.44. This represents a 14.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 284,761 shares of company stock worth $24,913,484 over the last quarter. Company insiders own 3.64% of the company’s stock.

Institutional Trading of Disc Medicine

Several hedge funds have recently made changes to their positions in IRON. JPMorgan Chase & Co. grew its position in Disc Medicine by 110.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,581,127 shares of the company’s stock valued at $125,557,000 after acquiring an additional 828,248 shares during the last quarter. BVF Inc. IL acquired a new position in shares of Disc Medicine in the fourth quarter valued at about $51,616,000. Jennison Associates LLC purchased a new stake in Disc Medicine in the fourth quarter valued at $42,252,000. Perceptive Advisors LLC acquired a new stake in Disc Medicine during the fourth quarter valued at $35,794,000. Finally, RA Capital Management L.P. increased its position in shares of Disc Medicine by 25.3% in the fourth quarter. RA Capital Management L.P. now owns 1,976,132 shares of the company’s stock valued at $156,925,000 after buying an additional 399,026 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.