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In a recent SEC filing, Disc Medicine, Inc. (NASDAQ:IRON), a $1.8 billion market cap biotechnology company, reported that Chief Commercial Officer Pamela Stephenson sold 3,137 shares of the company’s common stock. The shares were sold on February 18 at $54.58 each, totaling $171,217. According to InvestingPro data, the stock has shown significant volatility, trading between $25.60 and $77.60 over the past 52 weeks. Following this transaction, Stephenson holds 69,529 shares directly.
The filing notes that this sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units granted on February 26, 2024. This "sell to cover" transaction is not a discretionary sale by Stephenson.
In other recent news, Disc Medicine has been the subject of increased attention from analysts. Stifel has raised its price target for the company to $94, up from $90, while maintaining a Buy rating. This adjustment comes after Disc Medicine received authorization to submit a new drug application for bitopertin, with an anticipated commercial launch in 2026. Stifel’s analysts estimate an 85% chance of approval for the drug, which targets erythropoietic protoporphyria, and they believe forthcoming data could further bolster investor confidence.
Meanwhile, Jefferies has maintained its Buy rating and a $111 price target for Disc Medicine. The firm’s optimism is driven by expected positive data from an upcoming presentation of DISC-0974 at the American Society of Hematology. This presentation will include comprehensive six-month data, which is anticipated to showcase superior efficacy and favorable safety results compared to competitors. Jefferies’ confidence reflects Disc Medicine’s clinical advancements and potential impact on the treatment landscape. These developments indicate a promising trajectory for Disc Medicine, with significant upcoming milestones in their clinical trials.
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