Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a growth of 6.4% from the January 15th total of 2,040,000 shares. Approximately 12.1% of the company's stock are sold short. Based on an average daily volume of 336,500 shares, the short-interest ratio is currently 6.4 days.

Insider Activity

In related news, CEO John D. Quisel sold 12,791 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $66.01, for a total transaction of $844,333.91. Following the completion of the sale, the chief executive officer now owns 72,065 shares of the company's stock, valued at $4,757,010.65. This trade represents a 15.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jean M. Franchi sold 3,136 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $54.58, for a total transaction of $171,162.88. Following the sale, the chief financial officer now directly owns 69,530 shares of the company's stock, valued at $3,794,947.40. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,220 shares of company stock worth $5,578,278. Insiders own 4.24% of the company's stock.

Institutional Trading of Disc Medicine

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Disc Medicine by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 474,719 shares of the company's stock worth $23,333,000 after purchasing an additional 70,983 shares in the last quarter. State Street Corp lifted its stake in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company's stock worth $40,683,000 after purchasing an additional 235,115 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Disc Medicine in the 3rd quarter worth $589,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Disc Medicine by 45.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock worth $54,000 after purchasing an additional 337 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Disc Medicine by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 160,554 shares of the company's stock worth $7,890,000 after purchasing an additional 19,401 shares in the last quarter. Hedge funds and other institutional investors own 83.70% of the company's stock.

Analysts Set New Price Targets

IRON has been the subject of a number of research analyst reports. Scotiabank lifted their target price on shares of Disc Medicine from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, January 22nd. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Stifel Nicolaus boosted their price objective on shares of Disc Medicine from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $66.00 to $110.00 in a research report on Monday, November 4th. Finally, HC Wainwright reissued a "buy" rating and set a $118.00 price objective on shares of Disc Medicine in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $88.90.

Disc Medicine Trading Up 0.3 %

Shares of IRON traded up $0.17 during trading hours on Friday, reaching $54.52. 426,903 shares of the stock traded hands, compared to its average volume of 403,261. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The company's 50-day moving average price is $59.26 and its two-hundred day moving average price is $55.02. The company has a market cap of $1.62 billion, a P/E ratio of -13.70 and a beta of 0.73.

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.