Disc Medicine (NASDAQ:IRON) Shares Gap Down to $62.26

Disc Medicine, Inc. (NASDAQ:IRONGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $62.26, but opened at $26.50. Disc Medicine shares last traded at $27.14, with a volume of 1,031,965 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James reissued an “outperform” rating and set a $40.00 price target (down previously from $75.00) on shares of Disc Medicine in a research report on Monday. BMO Capital Markets reduced their price target on shares of Disc Medicine from $80.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday. Wedbush reissued 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 reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price target on shares of Disc Medicine in a research report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Disc Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

View Our Latest Analysis on Disc Medicine

Disc Medicine Price Performance

The business’s 50-day simple moving average is $64.16 and its 200 day simple moving average is $57.00.

Disc Medicine (NASDAQ:IRONGet Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.22). On average, equities analysts expect that Disc Medicine, Inc. will post -4.51 earnings per share for the current year.

Insider Transactions at Disc Medicine

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Disc Medicine by 50.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 600 shares of the company’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Strs Ohio lifted its stake in shares of Disc Medicine by 66.7% during the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after buying an additional 400 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Disc Medicine during the 2nd quarter valued at $28,000. Deutsche Bank AG lifted its stake in shares of Disc Medicine by 27.3% during the 3rd quarter. Deutsche Bank AG now owns 4,609 shares of the company’s stock valued at $217,000 after buying an additional 987 shares in the last quarter. Finally, AJOVista LLC purchased a new position in shares of Disc Medicine during the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

(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.

Read More

Receive News & Ratings for Disc Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Disc Medicine and related companies with MarketBeat.com's FREE daily email newsletter.