Disc Medicine (NASDAQ:IRON) Sees Large Volume Increase After Analyst Upgrade

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) shares saw unusually-high trading volume on Thursday after Stifel Nicolaus raised their price target on the stock from $90.00 to $94.00. Stifel Nicolaus currently has a buy rating on the stock. Approximately 647,136 shares were traded during mid-day trading, an increase of 69% from the previous session's volume of 383,964 shares.The stock last traded at $55.98 and had previously closed at $58.50.

IRON has been the topic of a number of other research reports. Raymond James upgraded Disc Medicine from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $66.00 to $110.00 in a research note on Monday, November 4th. Jefferies Financial Group initiated coverage on Disc Medicine in a research note on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective on the stock. Scotiabank boosted their price objective on Disc Medicine from $70.00 to $73.00 and gave the stock a "sector outperform" rating in a research note on Wednesday. Morgan Stanley upgraded Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, Wedbush restated an "outperform" rating and set a $90.00 price objective (up previously from $83.00) on shares of Disc Medicine in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Disc Medicine has a consensus rating of "Buy" and an average target price of $88.90.

Insider Activity at Disc Medicine

In related news, Director William Richard White sold 1,957 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total value of $126,480.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John D. Quisel sold 12,791 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.01, for a total value of $844,333.91. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares of the company's stock, valued at approximately $4,757,010.65. This represents a 15.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,758 shares of company stock valued at $5,400,990 over the last three months. 4.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in IRON. Amalgamated Bank raised its position in shares of Disc Medicine by 76.9% during the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock worth $26,000 after purchasing an additional 247 shares during the period. Marshall Wace LLP acquired a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $554,000. Point72 Asset Management L.P. acquired a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $34,318,000. Deerfield Management Company L.P. Series C raised its position in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company's stock worth $46,119,000 after purchasing an additional 357,730 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Disc Medicine by 26.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,294 shares of the company's stock worth $1,275,000 after purchasing an additional 5,960 shares during the period. 83.70% of the stock is owned by institutional investors.

Disc Medicine Trading Up 0.8 %

The business has a 50-day moving average price of $62.66 and a two-hundred day moving average price of $53.72. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -14.43 and a beta of 0.75.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, topping analysts' consensus estimates of ($1.04) by $0.15. On average, equities research analysts predict that Disc Medicine, Inc. will post -4.07 earnings per share for the current fiscal year.

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.