Disc Medicine (NASDAQ:IRON) Trading Down 6%

Disc Medicine, Inc. (NASDAQ:IRON) traded down 6% during trading on Tuesday . The stock traded as low as $43.32 and last traded at $43.70. 198,390 shares changed hands during trading, a decline of 53% from the average session volume of 419,754 shares. The stock had previously closed at $46.47.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Disc Medicine from $71.00 to $73.00 and gave the company a “buy” rating in a report on Monday, April 8th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Disc Medicine in a report on Friday, June 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $70.00 target price (up from $50.00) on shares of Disc Medicine in a report on Monday, June 17th. Morgan Stanley reduced their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 2nd. Finally, Raymond James upped their target price on Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Disc Medicine currently has an average rating of “Moderate Buy” and an average target price of $62.57.

Disc Medicine Stock Performance

The firm has a 50 day moving average of $35.46 and a 200-day moving average of $50.07. The stock has a market capitalization of $1.06 billion, a PE ratio of -12.91 and a beta of 0.57.

Disc Medicine (NASDAQ:IRON) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). On average, sell-side analysts predict that Disc Medicine, Inc. will post -4.47 earnings per share for the current year.

Insider Transactions at Disc Medicine

In other news, Director William Richard White sold 2,560 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.80, for a total transaction of $81,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Disc Medicine by 59.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 944,213 shares of the company’s stock valued at $58,788,000 after acquiring an additional 353,382 shares in the last quarter. First Turn Management LLC bought a new position in shares of Disc Medicine in the 4th quarter valued at approximately $9,084,000. Jennison Associates LLC raised its stake 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 valued at $12,031,000 after acquiring an additional 150,209 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Disc Medicine by 12.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock valued at $61,469,000 after acquiring an additional 145,781 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. raised its stake in shares of Disc Medicine by 19.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.