Disc Medicine (NASDAQ:IRON) Shares Gap Up to $41.25

Shares of Disc Medicine, Inc. (NASDAQ:IRON) gapped up before the market opened on Friday . The stock had previously closed at $41.25, but opened at $43.64. Disc Medicine shares last traded at $42.88, with a volume of 48,915 shares trading hands.

Analyst Upgrades and Downgrades

IRON has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $57.00 target price (up from $43.00) on shares of Disc Medicine in a research note on Friday, June 14th. Raymond James raised their target price on shares of Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price (up from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. Morgan Stanley lowered their target price on shares of Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Disc Medicine in a research note on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Disc Medicine currently has an average rating of “Moderate Buy” and a consensus target price of $62.57.

Disc Medicine Stock Up 7.1 %

The company’s 50 day moving average price is $33.61 and its 200 day moving average price is $50.76. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -13.07 and a beta of 0.51.

Disc Medicine (NASDAQ:IRON) last posted its earnings results on Thursday, May 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). As a group, analysts expect that Disc Medicine, Inc. will post -4.56 earnings per share for the current year.

Insider Activity at Disc Medicine

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRON. Strs Ohio increased its holdings in Disc Medicine by 66.7% in the fourth 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. AJOVista LLC purchased a new position in Disc Medicine in the fourth quarter valued at $63,000. China Universal Asset Management Co. Ltd. purchased a new position in Disc Medicine in the fourth quarter valued at $161,000. ProShare Advisors LLC purchased a new position in Disc Medicine in the first quarter valued at $211,000. Finally, Bleakley Financial Group LLC purchased a new position in Disc Medicine in the fourth quarter valued at $215,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.