Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON - Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a drop of 6.9% from the September 30th total of 1,590,000 shares. Approximately 9.5% of the shares of the stock are sold short. Based on an average trading volume of 215,400 shares, the days-to-cover ratio is presently 6.9 days.

Disc Medicine Price Performance

IRON stock traded down $0.78 during mid-day trading on Thursday, reaching $44.82. The company had a trading volume of 217,430 shares, compared to its average volume of 344,941. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -12.65 and a beta of 0.59. The stock has a 50 day simple moving average of $48.71 and a two-hundred day simple moving average of $42.43. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced 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. On average, equities analysts predict that Disc Medicine will post -4.19 EPS for the current year.

Analyst Upgrades and Downgrades

IRON has been the subject of a number of research reports. Jefferies Financial Group started coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Disc Medicine in a report on Monday. 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. Cantor Fitzgerald reissued an "overweight" rating and set a $85.00 target price on shares of Disc Medicine in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company initiated 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.40.

Hedge Funds Weigh In On Disc Medicine

Several large investors have recently made changes to their positions in the business. Atlas Venture Life Science Advisors LLC lifted its stake in Disc Medicine by 9.7% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company's stock worth $113,101,000 after purchasing an additional 222,223 shares in the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company's stock worth $79,090,000 after purchasing an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of Disc Medicine by 53.8% during the second 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in Disc Medicine by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company's stock worth $58,788,000 after purchasing an additional 353,382 shares during the last quarter. Finally, Logos Global Management LP purchased a new position in Disc Medicine during the second quarter worth about $41,690,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.