Disc Medicine (NASDAQ:IRON) Sees Large Volume Increase – Time to Buy?

Shares of Disc Medicine, Inc. (NASDAQ:IRON) saw an uptick in trading volume on Wednesday. 1,586,133 shares traded hands during mid-day trading, an increase of 155% from the previous session’s volume of 622,870 shares. The stock last traded at $79.9430 and had previously closed at $79.48.

Analysts Set New Price Targets

IRON has been the topic of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $128.00 target price on shares of Disc Medicine in a research note on Thursday, September 10th. Truist Financial raised their target price on Disc Medicine from $83.00 to $115.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Disc Medicine in a research report on Thursday, October 15th. Wedbush upped their price target on Disc Medicine from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen cut Disc Medicine from a “hold” rating to a “sell” rating in a research note on Saturday. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.60.

Disc Medicine Trading Up 0.3%

The company has a fifty day simple moving average of $71.53 and a two-hundred day simple moving average of $71.39. 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 market capitalization of $3.06 billion, a P/E ratio of -12.11 and a beta of 0.93.

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

Insiders Place Their Bets

In other news, Director Kevin Bitterman sold 49,164 shares of Disc Medicine stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $80.17, for a total transaction of $3,941,477.88. Following the transaction, the director owned 13,499 shares in the company, valued at $1,082,214.83. The trade was a 78.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Quisel sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $79.15, for a total value of $2,611,950.00. Following the completion of the transaction, the chief executive officer owned 226,064 shares of the company’s stock, valued at $17,892,965.60. This represents a 12.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 131,221 shares of company stock worth $10,239,760. Company insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IRON. BlackRock Inc. bought a new position in Disc Medicine in the second quarter valued at approximately $180,502,000. Wellington Management Group LLP increased its position in shares of Disc Medicine by 0.3% during the second quarter. Wellington Management Group LLP now owns 1,741,351 shares of the company’s stock worth $127,362,000 after acquiring an additional 5,975 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Disc Medicine by 191.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,119,458 shares of the company’s stock worth $73,280,000 after acquiring an additional 735,300 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Disc Medicine by 103.1% during the second quarter. Opaleye Management Inc. now owns 855,000 shares of the company’s stock worth $62,535,000 after acquiring an additional 434,000 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Disc Medicine by 14.7% during the first quarter. Jennison Associates LLC now owns 610,382 shares of the company’s stock worth $39,028,000 after acquiring an additional 78,303 shares during the period. Institutional investors own 83.70% of the company’s stock.

About Disc Medicine

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on developing treatments for serious hematologic diseases. Its research is centered on the biology of red blood cell production and iron homeostasis, with the goal of addressing disorders in which abnormal iron regulation or ineffective erythropoiesis contributes to disease.

The company’s pipeline includes bitopertin, an investigational oral therapy designed to enhance red blood cell production through inhibition of glycine transporter 1.