Short Interest in Disc Medicine, Inc. (NASDAQ:IRON) Increases By 6.4%

Disc Medicine, Inc. (NASDAQ:IRON) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,170,000 shares, a growth of 6.4% from the January 15th total of 2,040,000 shares. Based on an average daily volume of 336,500 shares, the days-to-cover ratio is currently 6.4 days. Approximately 12.1% of the shares of the company are sold short.

Insider Buying and Selling at Disc Medicine

In other Disc Medicine news, insider Rahul Khara sold 7,500 shares of Disc Medicine stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $55.54, for a total value of $416,550.00. Following the transaction, the insider now directly owns 14,035 shares in the company, valued at approximately $779,503.90. This trade represents a 34.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Richard White sold 1,957 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $64.63, for a total value of $126,480.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,763 shares of company stock worth $4,843,795. 4.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Disc Medicine

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its position in Disc Medicine by 798.4% during the fourth quarter. Sterling Capital Management LLC now owns 566 shares of the company’s stock worth $36,000 after buying an additional 503 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Disc Medicine by 47.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 825 shares of the company’s stock worth $52,000 after buying an additional 266 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company’s stock worth $54,000 after buying an additional 337 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Disc Medicine in the third quarter valued at $131,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Disc Medicine in the third quarter valued at $146,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Disc Medicine Stock Performance

Disc Medicine stock opened at $54.10 on Tuesday. The stock has a fifty day moving average of $59.95 and a two-hundred day moving average of $54.94. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -13.59 and a beta of 0.73. Disc Medicine has a fifty-two week low of $25.60 and a fifty-two week high of $77.60.

Wall Street Analyst Weigh In

Several analysts have recently commented on IRON shares. Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price target for the company. Scotiabank raised their price target on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $118.00 price target on shares of Disc Medicine in a report on Tuesday, January 21st. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective (up from $83.00) on shares of Disc Medicine in a report on Tuesday, January 21st. Finally, Morgan Stanley raised Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Tuesday, November 5th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Disc Medicine currently has a consensus rating of “Buy” and a consensus target price of $88.90.

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.