Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $1,251,434.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) CEO John D. Quisel sold 19,820 shares of Disc Medicine stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $63.14, for a total value of $1,251,434.80. Following the completion of the sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Disc Medicine Trading Up 0.8 %

Shares of NASDAQ IRON traded up $0.53 during trading on Thursday, reaching $65.54. The company had a trading volume of 143,756 shares, compared to its average volume of 344,588. The stock has a market capitalization of $1.95 billion, a PE ratio of -16.47 and a beta of 0.76. Disc Medicine, Inc. has a twelve month low of $25.60 and a twelve month high of $77.60. The stock has a 50-day moving average price of $60.14 and a two-hundred day moving average price of $51.28.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. On average, sell-side analysts predict that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently modified their holdings of IRON. JPMorgan Chase & Co. grew its stake in Disc Medicine by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,255 shares of the company's stock worth $799,000 after acquiring an additional 2,257 shares during the period. Exome Asset Management LLC boosted its holdings in shares of Disc Medicine by 5.8% during the third quarter. Exome Asset Management LLC now owns 64,516 shares of the company's stock worth $3,170,000 after purchasing an additional 3,516 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Disc Medicine by 38.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 19,560 shares of the company's stock valued at $961,000 after purchasing an additional 5,458 shares during the period. Geode Capital Management LLC increased its stake in Disc Medicine by 17.6% in the third quarter. Geode Capital Management LLC now owns 474,719 shares of the company's stock valued at $23,333,000 after purchasing an additional 70,983 shares during the last quarter. Finally, Barclays PLC increased its stake in Disc Medicine by 123.7% in the third quarter. Barclays PLC now owns 40,145 shares of the company's stock valued at $1,972,000 after purchasing an additional 22,202 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on IRON. Jefferies Financial Group assumed coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 target price on the stock. Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 target price on the stock in a research report on Tuesday, November 5th. Wedbush reiterated an "outperform" rating and set a $83.00 price target on shares of Disc Medicine in a research report on Monday, December 9th. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Finally, Stifel Nicolaus lifted their price objective on Disc Medicine from $79.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Disc Medicine presently has a consensus rating of "Buy" and a consensus target price of $87.50.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.