Disc Medicine, Inc. (NASDAQ:IRON) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Disc Medicine, Inc. (NASDAQ:IRON) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $106.50.

Several brokerages recently commented on IRON. Wall Street Zen downgraded shares of Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday. Wedbush reaffirmed an “outperform” rating and issued a $88.00 price target on shares of Disc Medicine in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Disc Medicine in a research note on Friday, July 17th. 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. Finally, HC Wainwright increased their target price on Disc Medicine from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Insider Transactions at Disc Medicine

In other news, CEO John D. Quisel sold 34,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $70.21, for a total transaction of $2,387,140.00. Following the completion of the transaction, the chief executive officer directly owned 226,064 shares in the company, valued at $15,871,953.44. The trade was a 13.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rahul Khara sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the completion of the sale, the insider directly owned 52,173 shares of the company’s stock, valued at $3,663,588.06. This represents a 12.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 153,612 shares of company stock worth $11,431,811 over the last three months. 3.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently bought and sold shares of IRON. State of Wyoming acquired a new stake in Disc Medicine in the 2nd quarter worth $25,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Disc Medicine during the fourth quarter valued at about $33,000. Allworth Financial LP bought a new stake in shares of Disc Medicine in the second quarter valued at about $46,000. Nykredit A S bought a new stake in shares of Disc Medicine in the second quarter valued at about $103,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Disc Medicine during the fourth quarter worth about $141,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Disc Medicine Stock Down 1.7%

Shares of Disc Medicine stock opened at $78.65 on Thursday. Disc Medicine has a 12-month low of $40.00 and a 12-month high of $99.50. 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 stock has a 50 day moving average price of $77.13 and a two-hundred day moving average price of $70.05. The stock has a market capitalization of $3.02 billion, a P/E ratio of -11.95 and a beta of 1.00.

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

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.