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Raymond James gives an Outperform recommendation for Disc Medicine Inc (IRON)

Disc Medicine Inc’s recent filing unveils that its Director White William Richard unloaded Company’s shares for reported $9253.0 on Jul 01 ’24. In the deal valued at $46.04 per share,201 shares were sold. As a result of this transaction, White William Richard now holds 0 shares worth roughly $0.0.

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Then, Bitterman Kevin bought 222,223 shares, generating $8,000,028 in total proceeds. Upon buying the shares at $36.00, the Director now owns 420,549 shares.

Before that, Ashiya Mona bought 83,334 shares. Disc Medicine Inc shares valued at $3,000,024 were divested by the Director at a price of $36.00 per share. As a result of the transaction, Ashiya Mona now holds 941,569 shares, worth roughly $44.23 million.

Raymond James downgraded its Disc Medicine Inc [IRON] rating to an Outperform from a a Strong buy in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “an Equal-weight”. Raymond James also remained covering IRON and has increased its forecast on June 09, 2023 with a “Strong buy” recommendation from previously “an Outperform” rating. H.C. Wainwright started covering the stock on June 07, 2023. It rated IRON as “a Buy”.

Price Performance Review of IRON

On Tuesday, Disc Medicine Inc [NASDAQ:IRON] saw its stock fall -1.12% to $46.97. Over the last five days, the stock has gained 1.08%. Disc Medicine Inc shares have fallen nearly -18.68% since the year began. Nevertheless, the stocks have risen 3.37% over the past one year. While a 52-week high of $77.60 was reached on 03/04/24, a 52-week low of $25.60 was recorded on 04/01/24. SMA at 50 days reached $36.83, while 200 days put it at $49.66. A total of 0.4 million shares were traded, compared to the trading of 0.26 million shares in the previous session.

Levels Of Support And Resistance For IRON Stock

The 24-hour chart illustrates a support level at 46.06, which if violated will result in even more drops to 45.16. On the upside, there is a resistance level at 48.36. A further resistance level may holdings at 49.76. The Relative Strength Index (RSI) on the 14-day chart is 61.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.39, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.44%. Stochastics%K at 82.37% indicates the stock is a selling.

The most recent change occurred on May 17, 2023 when Raymond James began covering the stock and recommended ‘”an Outperform”‘ rating along with a $50 price target.

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