Disc Medicine (NASDAQ:IRON) Shares Gap Up - Still a Buy?

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $50.92, but opened at $52.25. Disc Medicine shares last traded at $50.35, with a volume of 61,029 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on IRON shares. Wells Fargo & Company started coverage on Disc Medicine in a report on Thursday, August 22nd. They set an "overweight" rating and a $75.00 price target for the company. Jefferies Financial Group began coverage on Disc Medicine in a research report on Wednesday. They set a "buy" rating and a $89.00 price target for the company. Scotiabank initiated coverage on shares of Disc Medicine in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $62.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Disc Medicine in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Disc Medicine has an average rating of "Moderate Buy" and an average target price of $66.40.

Disc Medicine Price Performance

The firm has a market cap of $1.16 billion, a P/E ratio of -13.92 and a beta of 0.59. The stock's 50-day simple moving average is $48.98 and its two-hundred day simple moving average is $41.90.

Disc Medicine (NASDAQ:IRON - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share for the quarter, topping analysts' consensus estimates of ($1.11) by $0.08. As a group, sell-side analysts expect that Disc Medicine, Inc. will post -4.19 earnings per share for the current year.

Institutional Investors Weigh In On Disc Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in shares of Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock valued at $26,000 after buying an additional 247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Disc Medicine in the 2nd quarter valued at about $129,000. SG Americas Securities LLC boosted its holdings in shares of Disc Medicine by 44.2% in the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company's stock valued at $183,000 after acquiring an additional 1,247 shares during the period. ProShare Advisors LLC acquired a new position in shares of Disc Medicine in the 1st quarter valued at $211,000. Finally, Algert Global LLC purchased a new position in shares of Disc Medicine in the 2nd quarter valued at approximately $239,000. Hedge funds and other institutional investors own 83.70% of the company's stock.

About Disc Medicine

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.