Disc Medicine (NASDAQ:IRON) Stock Gets Downgrade from Wall Street Zen

Disc Medicine (NASDAQ:IRON) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on IRON. HC Wainwright reissued a “buy” rating and issued a $120.00 price target on shares of Disc Medicine in a report on Thursday, September 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Disc Medicine in a research note on Tuesday, September 1st. Morgan Stanley restated an “overweight” rating and set a $90.00 price target on shares of Disc Medicine in a research note on Monday, August 17th. Wedbush restated an “outperform” rating and set a $100.00 price objective on shares of Disc Medicine in a report on Thursday, September 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Disc Medicine in a research report on Thursday, September 10th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.90.

Disc Medicine Price Performance

Shares of IRON stock opened at $56.84 on Friday. Disc Medicine has a 1-year low of $40.00 and a 1-year high of $99.50. The stock’s fifty day moving average price is $71.55 and its 200 day moving average price is $71.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 24.14 and a quick ratio of 24.14. The company has a market cap of $217.98 million, a price-to-earnings ratio of -8.64 and a beta of 0.93.

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

Insider Activity at Disc Medicine

In related news, Director Kevin Bitterman sold 27,136 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $70.11, for a total value of $1,902,504.96. Following the transaction, the director directly owned 7,136 shares of the company’s stock, valued at $500,304.96. This represents a 79.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jonathan Yu sold 8,796 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $83.12, for a total value of $731,123.52. Following the completion of the transaction, the chief operating officer owned 54,324 shares of the company’s stock, valued at $4,515,410.88. This trade represents a 13.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 131,221 shares of company stock valued at $10,239,760 over the last three months. 3.76% of the stock is owned by corporate insiders.

Institutional Trading of Disc Medicine

Several large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Disc Medicine by 191.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock valued at $73,280,000 after purchasing an additional 735,300 shares during the period. Opaleye Management Inc. raised its stake in shares of Disc Medicine by 103.1% in the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after purchasing an additional 434,000 shares during the last quarter. Engineers Gate Manager LP raised its stake in shares of Disc Medicine by 110.9% in the second quarter. Engineers Gate Manager LP now owns 19,552 shares of the company’s stock worth $1,430,000 after purchasing an additional 10,282 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Disc Medicine by 139.3% in the second quarter. Squarepoint Ops LLC now owns 75,872 shares of the company’s stock worth $5,549,000 after purchasing an additional 44,163 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Disc Medicine by 2.4% in the second quarter. Arizona State Retirement System now owns 6,844 shares of the company’s stock worth $501,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. The company’s research centers on disorders involving the production of red blood cells, iron metabolism and heme biology, areas that can contribute to anemia and other blood-related complications.

Disc Medicine’s lead product candidate is bitopertin, an oral small-molecule therapy designed to modulate glycine transporter 1 and influence heme production. The company is evaluating bitopertin in conditions including erythropoietic protoporphyria, a rare disorder associated with painful light sensitivity, as well as polycythemia vera and other hematologic diseases.

The company is also developing additional therapies intended to regulate iron availability and address anemia associated with chronic or hematologic conditions.