Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Up 5.9% in March

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,260,000 shares, a growth of 5.9% from the February 29th total of 1,190,000 shares. Based on an average daily trading volume, of 290,000 shares, the short-interest ratio is presently 4.3 days.

Insider Buying and Selling

In other Disc Medicine news, Director Kevin Bitterman sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,280,000.00. Following the completion of the sale, the director now directly owns 786,160 shares in the company, valued at $50,314,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kevin Bitterman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total value of $1,280,000.00. Following the transaction, the director now directly owns 786,160 shares in the company, valued at $50,314,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Venture Fund X. L.P. Atlas sold 30,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $64.00, for a total transaction of $1,920,000.00. Following the completion of the sale, the insider now directly owns 1,449,686 shares of the company’s stock, valued at approximately $92,779,904. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,000 shares of company stock valued at $13,347,500. Company insiders own 4.71% of the company’s stock.

Institutional Trading of Disc Medicine

Several institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. lifted its holdings in Disc Medicine by 12.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after buying an additional 145,781 shares during the period. Perceptive Advisors LLC lifted its stake in shares of Disc Medicine by 14.2% in the fourth quarter. Perceptive Advisors LLC now owns 1,023,045 shares of the company’s stock worth $59,091,000 after acquiring an additional 127,404 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in Disc Medicine by 19.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 785,000 shares of the company’s stock valued at $45,342,000 after acquiring an additional 130,000 shares during the last quarter. Vanguard Group Inc. increased its position in Disc Medicine by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 764,544 shares of the company’s stock valued at $44,160,000 after purchasing an additional 99,092 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Disc Medicine by 280.4% during the 2nd quarter. Citadel Advisors LLC now owns 651,320 shares of the company’s stock worth $28,919,000 after purchasing an additional 480,082 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on IRON shares. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target (down previously from $75.00) on shares of Disc Medicine in a research note on Monday. Wedbush reiterated an “outperform” rating and set a $43.00 price target (down previously from $84.00) on shares of Disc Medicine in a research report on Monday. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Monday. BMO Capital Markets reduced their target price on Disc Medicine from $80.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on Disc Medicine from $104.00 to $71.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Check Out Our Latest Report on Disc Medicine

Disc Medicine Stock Down 6.4 %

Shares of IRON opened at $32.04 on Wednesday. Disc Medicine has a 12-month low of $20.05 and a 12-month high of $77.60. The business has a 50-day simple moving average of $64.16 and a two-hundred day simple moving average of $57.00.

Disc Medicine (NASDAQ:IRONGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). As a group, analysts expect that Disc Medicine will post -4.51 EPS for the current fiscal year.

About Disc Medicine

(Get Free Report)

Disc Medicine, Inc, together with its subsidiaries, operates as a clinical-stage biopharmaceutical company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 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.

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