Kevin Bitterman Sells 5,203 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) Director Kevin Bitterman sold 5,203 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $79.98, for a total value of $416,135.94. Following the sale, the director owned 13,445 shares of the company’s stock, valued at approximately $1,075,331.10. This represents a 27.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

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

Disc Medicine Price Performance

NASDAQ IRON traded down $0.68 during trading on Thursday, hitting $79.37. 501,017 shares of the company’s stock were exchanged, compared to its average volume of 568,092. The company has a market cap of $3.05 billion, a PE ratio of -12.06 and a beta of 0.98. 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, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $99.50. The stock’s 50 day moving average price is $77.49 and its two-hundred day moving average price is $70.15.

Disc Medicine (NASDAQ:IRON) last posted 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. Research analysts expect that Disc Medicine, Inc. will post -6.61 EPS for the current year.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently made changes to their positions in IRON. California State Teachers Retirement System raised its position in shares of 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 acquiring an additional 2,844,408 shares during the last quarter. AXQ Capital LP bought a new stake in Disc Medicine in the second quarter valued at approximately $441,000. Nykredit A S bought a new stake in Disc Medicine in the second quarter valued at approximately $103,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Disc Medicine by 2.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,109 shares of the company’s stock worth $8,346,000 after purchasing an additional 3,219 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Disc Medicine by 0.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after purchasing an additional 5,975 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IRON shares. Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a research report on Tuesday. HC Wainwright upped their price target on shares of Disc Medicine from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wedbush increased their price target on Disc Medicine from $88.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen downgraded Disc Medicine from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Friday, July 17th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $107.70.

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.