Rahul Khara Sells 7,500 Shares of Disc Medicine (NASDAQ:IRON) Stock

Disc Medicine, Inc. (NASDAQ:IRON) insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $70.22, for a total value of $526,650.00. Following the sale, the insider directly owned 52,173 shares of the company’s stock, valued at approximately $3,663,588.06. This trade represents a 12.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Disc Medicine Price Performance

Shares of IRON stock opened at $70.47 on Thursday. Disc Medicine, Inc. has a twelve month low of $40.00 and a twelve month high of $99.50. The company has a current ratio of 24.00, a quick ratio of 24.00 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $68.80 and a two-hundred day simple moving average of $71.18. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.64 and a beta of 0.93.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.65) EPS for the quarter, missing the consensus estimate of ($1.62) by ($0.03). On average, analysts predict that Disc Medicine, Inc. will post -6.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRON. Wall Street Zen upgraded shares of Disc Medicine from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Wells Fargo & Company increased their price objective on shares of Disc Medicine from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Morgan Stanley lifted their price objective on shares of Disc Medicine from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Disc Medicine in a research note on Monday, April 20th. Finally, Wedbush restated an “outperform” rating and set a $88.00 target price on shares of Disc Medicine in a report on Wednesday, June 10th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.80.

Hedge Funds Weigh In On Disc Medicine

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Disc Medicine by 22.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,138 shares of the company’s stock worth $756,000 after purchasing an additional 2,807 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Disc Medicine by 1,277.1% in the 1st quarter. Millennium Management LLC now owns 108,499 shares of the company’s stock valued at $5,386,000 after buying an additional 100,620 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Disc Medicine by 3.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,557 shares of the company’s stock valued at $4,793,000 after buying an additional 3,454 shares in the last quarter. Legal & General Group Plc grew its position in shares of Disc Medicine by 18.0% in the 2nd quarter. Legal & General Group Plc now owns 24,097 shares of the company’s stock worth $1,276,000 after buying an additional 3,682 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Disc Medicine by 21.6% in the 2nd quarter. Invesco Ltd. now owns 16,817 shares of the company’s stock worth $891,000 after buying an additional 2,983 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc (NASDAQ: IRON) is a clinical-stage biotechnology company focused on discovering and developing precision medicines that restore normal cellular function in severe genetic and acquired diseases. The company employs a chemistry-driven approach to identify small molecules that selectively modulate RNA-binding proteins or splicing regulatory pathways. By leveraging proprietary screening and medicinal chemistry platforms, Disc Medicine aims to address diseases with high unmet medical needs and limited treatment options.

The company’s pipeline is anchored by lead programs targeting neuromuscular and hematological disorders.