Disc Medicine (NASDAQ:IRON) Shares Up 6%

Disc Medicine, Inc. (NASDAQ:IRON) shares shot up 6% on Wednesday . The stock traded as high as $44.10 and last traded at $44.10. 14,411 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 419,077 shares. The stock had previously closed at $41.62.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRON. Raymond James upped their price objective on shares of Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Wedbush reiterated an “outperform” rating and set a $57.00 price objective (up previously from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. BMO Capital Markets reissued an “outperform” rating and set a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Disc Medicine in a research note on Friday, June 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Disc Medicine in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $62.57.

Disc Medicine Trading Up 3.7 %

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -12.98 and a beta of 0.57. The company’s 50 day moving average is $35.75 and its 200-day moving average is $49.95.

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). Research analysts expect that Disc Medicine, Inc. will post -4.47 EPS for the current year.

Insider Activity at Disc Medicine

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $31.80, for a total value of $81,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Several large investors have recently modified their holdings of IRON. Charles Schwab Investment Management Inc. grew its stake in Disc Medicine by 309.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 84,200 shares of the company’s stock worth $3,956,000 after buying an additional 63,644 shares in the last quarter. Invesco Ltd. boosted its position in shares of Disc Medicine by 45.7% during the 3rd quarter. Invesco Ltd. now owns 161,213 shares of the company’s stock worth $7,574,000 after acquiring an additional 50,581 shares in the last quarter. Trexquant Investment LP bought a new position in Disc Medicine in the third quarter valued at approximately $589,000. Schonfeld Strategic Advisors LLC raised its position in Disc Medicine by 76.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 12,700 shares of the company’s stock valued at $597,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in Disc Medicine by 16.1% during the third quarter. Alps Advisors Inc. now owns 16,900 shares of the company’s stock worth $794,000 after purchasing an additional 2,346 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

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.