John Quisel, the Chief Executive Officer of Disc Medicine, Inc. (NASDAQ:IRON), recently sold shares in the company totaling approximately $1.25 million. According to a recent SEC filing, Quisel sold a combined total of 19,820 shares on December 23, 2024, at prices ranging from $62.3777 to $63.8017 per share. These transactions were executed under a Rule 10b5-1 trading plan adopted earlier this year. The stock has shown remarkable strength, gaining nearly 50% over the past six months, with InvestingPro data showing analyst price targets ranging from $70 to $118.
Additionally, Quisel acquired 19,820 shares through stock options at an exercise price of $2.65 per share. After these transactions, he now holds 72,065 shares in Disc Medicine. The sales and acquisitions reflect Quisel's ongoing financial activities as the leader of the pharmaceutical company, which continues to focus on innovative treatments in the healthcare sector. InvestingPro analysis indicates the company maintains a GOOD financial health score, though current valuations suggest the stock may be trading above its Fair Value. Discover more insights and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, Disc Medicine has been in the spotlight with significant developments. The company's drug candidate, bitopertin, received positive feedback from the FDA, paving the way for potential accelerated approval. This development was followed by several firms, including Jefferies, H.C. Wainwright, Scotiabank (TSX:BNS), and BMO Capital Markets, maintaining or upgrading their ratings and price targets for Disc Medicine.
Raymond (NS:RYMD) James notably elevated the company's stock from Outperform to Strong Buy, setting a new price target of $110.00. This upgrade came on the heels of promising results from Disc Medicine's Phase 1b study of DISC-0974, which showed significant reduction in hepcidin levels and improvement in iron mobilization and hemoglobin levels in patients with non-dialysis-dependent chronic kidney disease and anemia.
Disc Medicine also announced a public stock offering of approximately $178 million to advance research and clinical development of its product candidates. On the personnel front, the company welcomed Dr. Rahul Rajan Kaushik as Chief Technical Officer and Dr. Steve Caffé as Chief Regulatory Officer, both with over two decades of experience in the pharmaceutical industry. These recent developments underscore Disc Medicine's continuous efforts to advance its clinical trials and operations.
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