Disc Medicine (NASDAQ:IRON) Shares Gap Up - Time to Buy?

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $47.13, but opened at $57.59. Disc Medicine shares last traded at $60.75, with a volume of 350,464 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $70.00 target price on shares of Disc Medicine in a research report on Monday, October 28th. Raymond James upgraded shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $66.00 to $110.00 in a report on Monday. Jefferies Financial Group began coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Wedbush reissued an "outperform" rating and issued a $57.00 target price on shares of Disc Medicine in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Disc Medicine has an average rating of "Buy" and a consensus target price of $73.10.

Disc Medicine Stock Up 23.6 %

The firm has a market cap of $1.73 billion, a P/E ratio of -16.55 and a beta of 0.61. The business has a fifty day simple moving average of $48.58 and a 200-day simple moving average of $42.65.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.11) by $0.08. On average, sell-side analysts anticipate that Disc Medicine, Inc. will post -4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Jennison Associates LLC raised its position in shares of Disc Medicine by 349.1% in the 1st quarter. Jennison Associates LLC now owns 193,240 shares of the company's stock worth $12,031,000 after purchasing an additional 150,209 shares during the last quarter. Swiss National Bank raised its holdings in Disc Medicine by 50.6% in the 1st quarter. Swiss National Bank now owns 23,800 shares of the company's stock worth $1,482,000 after acquiring an additional 8,000 shares during the last quarter. ProShare Advisors LLC bought a new position in Disc Medicine in the 1st quarter valued at approximately $211,000. Bleakley Financial Group LLC increased its holdings in shares of Disc Medicine by 23.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company's stock worth $285,000 after purchasing an additional 856 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Disc Medicine in the first quarter worth $7,429,000. Institutional investors own 83.70% of the company's stock.

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.