Disc Medicine (NASDAQ:IRON) Shares Up 7%

Disc Medicine, Inc. (NASDAQ:IRON)’s stock price shot up 7% during mid-day trading on Wednesday . The company traded as high as $33.48 and last traded at $33.45. 178,086 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 399,956 shares. The stock had previously closed at $31.26.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IRON. Wedbush reissued an “outperform” rating and issued a $43.00 target price (down from $84.00) on shares of Disc Medicine in a research note on Monday, April 1st. Morgan Stanley decreased their target price on 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. Raymond James upped their price objective on Disc Medicine from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Stifel Nicolaus upped their price objective on Disc Medicine from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Disc Medicine in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $57.71.

Disc Medicine Trading Up 2.8 %

The firm has a fifty day moving average of $37.44 and a 200-day moving average of $52.65.

Disc Medicine (NASDAQ:IRON) last released its earnings results on Thursday, March 21st. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.22). On average, analysts expect that Disc Medicine, Inc. will post -4.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 2,560 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Disc Medicine

Institutional investors and hedge funds have recently bought and sold shares of the business. Profund Advisors LLC bought a new position in shares of Disc Medicine during the third quarter worth approximately $496,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Disc Medicine by 12.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,308,405 shares of the company’s stock worth $61,469,000 after purchasing an additional 145,781 shares during the period. Vanguard Group Inc. increased its stake in shares of Disc Medicine by 18.9% during the third quarter. Vanguard Group Inc. now owns 665,452 shares of the company’s stock worth $31,263,000 after purchasing an additional 105,685 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Disc Medicine by 309.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 84,200 shares of the company’s stock worth $3,956,000 after purchasing an additional 63,644 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Disc Medicine during the third quarter worth approximately $1,973,000. 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.