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 September. As of September 30th, there was short interest totalling 1,590,000 shares, a growth of 13.6% from the September 15th total of 1,400,000 shares. Based on an average trading volume of 207,800 shares, the short-interest ratio is currently 7.7 days. Approximately 10.2% of the company's shares are sold short.

Disc Medicine Stock Up 0.7 %

NASDAQ:IRON traded up $0.35 during trading hours on Wednesday, reaching $47.99. The company had a trading volume of 563,686 shares, compared to its average volume of 348,045. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -14.09 and a beta of 0.59. The business's 50-day simple moving average is $48.32 and its two-hundred day simple moving average is $41.24. Disc Medicine has a twelve month low of $25.60 and a twelve month high of $77.60.

Disc Medicine (NASDAQ:IRON - Get Free Report) last issued its quarterly earnings data 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. As a group, equities analysts predict that Disc Medicine will post -4.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Disc Medicine in a research note on Monday, September 16th. Scotiabank started coverage on shares of Disc Medicine in a research report on Wednesday. They set a "sector outperform" rating and a $62.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday. Wells Fargo & Company started coverage on shares of Disc Medicine in a research report on Thursday, August 22nd. They set an "overweight" rating and a $75.00 price objective for the company. Finally, Wedbush reiterated an "outperform" rating and set a $57.00 price objective on shares of Disc Medicine in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.89.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank grew its holdings in shares of Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company's stock valued at $26,000 after buying an additional 247 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Disc Medicine during the second quarter valued at about $129,000. ProShare Advisors LLC bought a new position in shares of Disc Medicine during the first quarter valued at about $211,000. SG Americas Securities LLC lifted its position in shares of Disc Medicine by 44.2% during the second quarter. SG Americas Securities LLC now owns 4,071 shares of the company's stock valued at $183,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Disc Medicine by 23.0% during the first quarter. Bleakley Financial Group LLC now owns 4,572 shares of the company's stock valued at $285,000 after purchasing an additional 856 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.