Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Update

Disc Medicine, Inc. (NASDAQ:IRON) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 1,770,000 shares, a growth of 6.6% from the December 15th total of 1,660,000 shares. Currently, 11.3% of the company’s stock are sold short. Based on an average daily trading volume, of 316,200 shares, the short-interest ratio is presently 5.6 days.

Insider Activity at Disc Medicine

In other Disc Medicine news, CEO John D. Quisel sold 12,791 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $66.01, for a total transaction of $844,333.91. Following the completion of the sale, the chief executive officer now directly owns 72,065 shares of the company’s stock, valued at approximately $4,757,010.65. The trade was a 15.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $58.61, for a total value of $418,240.96. The disclosure for this sale can be found here. Insiders sold 85,758 shares of company stock valued at $5,400,990 in the last three months. Corporate insiders own 4.24% of the company’s stock.

Institutional Investors Weigh In On Disc Medicine

Several institutional investors have recently made changes to their positions in IRON. Amalgamated Bank lifted its position in shares of Disc Medicine by 76.9% during the second quarter. Amalgamated Bank now owns 568 shares of the company’s stock worth $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Disc Medicine by 45.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after purchasing an additional 337 shares during the period. Quest Partners LLC bought a new position in shares of Disc Medicine in the third quarter worth $131,000. Quantbot Technologies LP bought a new position in shares of Disc Medicine in the third quarter worth $146,000. Finally, Intech Investment Management LLC bought a new position in shares of Disc Medicine in the third quarter worth $228,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reissued an “outperform” rating and set a $83.00 price objective on shares of Disc Medicine in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $118.00 target price on shares of Disc Medicine in a report on Monday, December 9th. Scotiabank upped their target price on Disc Medicine from $62.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Disc Medicine from $79.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Disc Medicine in a report on Tuesday, October 15th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $87.50.

Disc Medicine Price Performance

Shares of NASDAQ:IRON traded down $1.71 during trading on Friday, hitting $58.24. 200,967 shares of the company were exchanged, compared to its average volume of 191,661. The company has a market cap of $1.73 billion, a PE ratio of -14.63 and a beta of 0.75. The stock has a 50 day moving average of $63.05 and a 200 day moving average of $53.40. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15. Sell-side analysts forecast that Disc Medicine will post -4.07 EPS for the current fiscal year.

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.