Insider Selling: Disc Medicine, Inc. (NASDAQ:IRON) CEO Sells $1,251,434.80 in Stock

Disc Medicine, Inc. (NASDAQ:IRON) CEO John D. Quisel sold 19,820 shares of Disc Medicine stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $63.14, for a total transaction of $1,251,434.80. Following the completion of the sale, the chief executive officer now owns 72,065 shares in the company, valued at approximately $4,550,184.10. This represents a 21.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Disc Medicine Trading Down 2.2 %

IRON stock opened at $64.12 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of -16.11 and a beta of 0.76. Disc Medicine, Inc. has a 12 month low of $25.60 and a 12 month high of $77.60. The company has a 50-day moving average price of $60.41 and a 200 day moving average price of $51.54.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.15. Sell-side analysts forecast that Disc Medicine, Inc. will post -4.05 EPS for the current year.

Institutional Trading of Disc Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of IRON. Atlas Venture Life Science Advisors LLC lifted its stake in shares of 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 valued at $113,101,000 after purchasing an additional 222,223 shares during the period. Wellington Management Group LLP increased its holdings in Disc Medicine by 4.8% in the third quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after buying an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of Disc Medicine by 123.5% in the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock worth $79,090,000 after acquiring an additional 969,834 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in shares of Disc Medicine by 53.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock worth $46,119,000 after acquiring an additional 357,730 shares in the last quarter. Finally, Logos Global Management LP acquired a new stake in shares of Disc Medicine during the 2nd quarter valued at about $41,690,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Analyst Ratings Changes

IRON has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Disc Medicine in a report on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $118.00 price objective on shares of Disc Medicine in a report on Monday, December 9th. Jefferies Financial Group started coverage on shares of Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised shares of Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $87.50.

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.