John D. Quisel, CEO of Disc Medicine, Inc. (NASDAQ:IRON), recently sold over $806,000 worth of stock. The transactions, executed according to a predetermined trading plan, included the sale of 13,012 shares at a weighted average price of $61.868 to $62.4107. The sale comes as the $1.85 billion market cap company is trading near $62.45, with analysts setting price targets between $70 and $118. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 19.36 and more cash than debt on its balance sheet. Following these sales, Quisel retains direct ownership of 72,065 shares. Additionally, Quisel acquired 23,012 shares through option exercises at a price of $9.86 or $1.01 per share. The stock has shown strong momentum with a 40% gain in the last six months. For a comprehensive analysis of insider trading and 12 additional key insights on IRON, see Pro Research’s detailed report available at InvestingPro.
In other recent news, Disc Medicine has seen significant progress in its clinical trials and operations. Jefferies maintained its Buy rating on Disc Medicine, with a $111 price target, citing positive data from the upcoming DISC-0974™ presentation. HC Wainwright also reiterated a Buy rating, raising its price target to $118 due to promising developments in Disc Medicine’s drug candidates. Similarly, Scotiabank (TSX: ) raised its price target on Disc Medicine to $70, maintaining a Sector Outperform rating following positive FDA feedback on a phase 3 trial of bitopertin.
BMO Capital Markets raised its price target on shares of Disc Medicine to $112, maintaining an outperform rating, following a positive regulatory update for bitopertin. Meanwhile, Raymond (NS:) James upgraded shares of Disc Medicine from Outperform to Strong Buy, setting a new price target of $110. These adjustments come after the company reported promising results from the Phase 1b DISC-0974 study and announced a public offering of approximately $178 million in stock to advance research and clinical development of its product candidates.
The company also welcomed new staff, including Dr. Rahul Rajan Kaushik as Chief Technical Officer and Dr. Steve Caffé as Chief Regulatory Officer, both of whom bring more than two decades of experience in the pharmaceutical industry. These recent developments reflect Disc Medicine’s continued efforts to advance its clinical trials and operations.
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