Disc Medicine, Inc. (NASDAQ:IRON) Short Interest Up 6.4% in June

Disc Medicine, Inc. (NASDAQ:IRON) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,000,000 shares, a growth of 6.4% from the May 31st total of 1,880,000 shares. Approximately 11.5% of the company’s shares are sold short. Based on an average trading volume of 516,100 shares, the days-to-cover ratio is currently 3.9 days.

Insiders Place Their Bets

In other news, Director William Richard White sold 2,560 shares of Disc Medicine stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.80, for a total value of $81,408.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio raised its holdings in shares of Disc Medicine by 66.7% in the 4th quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $57,000 after purchasing an additional 400 shares in the last quarter. AJOVista LLC purchased a new stake in Disc Medicine during the fourth quarter worth $63,000. China Universal Asset Management Co. Ltd. bought a new stake in Disc Medicine during the 4th quarter valued at $161,000. ProShare Advisors LLC purchased a new position in shares of Disc Medicine in the 1st quarter valued at $211,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Disc Medicine in the 4th quarter valued at $215,000. 83.70% of the stock is currently owned by institutional investors.

Disc Medicine Price Performance

Shares of NASDAQ:IRON opened at $41.62 on Wednesday. The business’s 50 day moving average is $35.75 and its 200 day moving average is $49.95. 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 quarterly 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). On average, sell-side analysts forecast that Disc Medicine will post -4.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IRON shares. Raymond James upped their price target on shares of Disc Medicine from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Morgan Stanley cut their target price on Disc Medicine from $75.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 2nd. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Disc Medicine in a research note on Friday, June 14th. Wedbush restated an “outperform” rating and set a $57.00 price objective (up previously from $43.00) on shares of Disc Medicine in a report on Friday, June 14th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $70.00 target price (up previously from $50.00) on shares of Disc Medicine in a research note on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.57.

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.