How are energy investors positioned?
In a recent transaction reported to the Securities and Exchange Commission, William Jacob Savage, the Chief Medical (TASE:BLWV) Officer of Disc Medicine, Inc. (NASDAQ:IRON), a $1.83 billion market cap biotechnology company, sold 1,638 shares of the company’s common stock. The shares were sold at a price of $54.58 each, totaling approximately $89,402. According to InvestingPro analysis, the stock currently trades near its Fair Value.
The transaction, dated February 18, 2025, was conducted to cover tax withholding obligations related to the vesting of restricted stock units. This "sell to cover" transaction does not reflect a discretionary sale by Savage, as clarified in the filing. Following this sale, Savage retains ownership of 68,498 shares in the company. InvestingPro data shows analysts remain bullish on IRON with a consensus rating of 1.36 and a high price target of $118, with the next earnings report scheduled for March 28, 2025. Discover more insights with InvestingPro’s comprehensive research report.
In other recent news, Disc Medicine has seen significant updates from analysts regarding its financial and clinical progress. Stifel has raised its price target for Disc Medicine shares to $94, maintaining a Buy rating. This adjustment follows the company’s authorization to submit a new drug application for bitopertin, with Stifel estimating an 85% chance of approval and a potential commercial launch in 2026. Jefferies also maintained a Buy rating for Disc Medicine, with a price target of $111, based on anticipated positive data for DISC-0974™. The upcoming presentation at the American Society of Hematology is expected to showcase superior efficacy and safety results, differentiating DISC-0974™ from competitors.
Additionally, Disc Medicine plans to discuss the Phase 2 trial design at an investor event following the presentation. The company is on track to begin the Phase 2 trial by the end of 2024. Analysts from both firms express confidence in Disc Medicine’s clinical advancements and its potential market impact. These developments indicate a positive outlook for the company’s future in the treatment landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.