Disc Medicine (NASDAQ:IRON) Stock Price Down 3% - Should You Sell?

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report)'s stock price dropped 3% on Friday . The stock traded as low as $51.20 and last traded at $50.82. Approximately 173,913 shares changed hands during trading, a decline of 52% from the average daily volume of 360,581 shares. The stock had previously closed at $52.41.

Analysts Set New Price Targets

IRON has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $85.00 price target on shares of Disc Medicine in a research report on Friday, March 7th. Stifel Nicolaus boosted their price target on Disc Medicine from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target (up previously from $83.00) on shares of Disc Medicine in a research report on Tuesday, January 21st. Scotiabank boosted their price target on Disc Medicine from $73.00 to $75.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a report on Tuesday, January 21st. Ten 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, the stock currently has an average rating of "Buy" and a consensus price target of $93.80.

Disc Medicine Trading Up 3.0 %

The company has a 50 day moving average of $55.95 and a 200-day moving average of $56.03. The firm has a market capitalization of $1.83 billion, a P/E ratio of -13.27 and a beta of 0.73.

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Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.98) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.08. As a group, sell-side analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current fiscal year.

Insider Activity

In related news, CEO John D. Quisel sold 19,820 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares in the company, valued at $4,550,184.10. This represents a 21.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mona Ashiya sold 83,182 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $54.45, for a total value of $4,529,259.90. Following the sale, the director now owns 194,209 shares of the company's stock, valued at approximately $10,574,680.05. This represents a 29.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 346,617 shares of company stock worth $19,182,953. 4.24% of the stock is currently owned by company insiders.

Institutional Trading of Disc Medicine

Several institutional investors and hedge funds have recently modified their holdings of IRON. Sterling Capital Management LLC lifted its position in shares of Disc Medicine by 798.4% during the 4th quarter. Sterling Capital Management LLC now owns 566 shares of the company's stock worth $36,000 after buying an additional 503 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Disc Medicine in the 4th quarter worth about $40,000. Tower Research Capital LLC TRC increased its holdings in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock worth $52,000 after purchasing an additional 266 shares in the last quarter. Quest Partners LLC acquired a new position in Disc Medicine in the 3rd quarter worth about $131,000. Finally, Quantbot Technologies LP acquired a new position in Disc Medicine in the 3rd quarter worth about $146,000. 83.70% of the stock is currently owned by institutional investors.

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.