William Richard White, a director at Disc Medicine, Inc. (NASDAQ:IRON), a biotechnology company with a market capitalization of $1.93 billion and strong momentum in recent months, recently completed a series of stock transactions. The stock has shown impressive performance, gaining nearly 70% over the past six months. According to a filing with the Securities and Exchange Commission, White sold shares totaling approximately $126,489. The sales took place on December 2, 2024, with prices ranging from $63.4941 to $65.3343 per share.
In addition to these sales, White also exercised stock options, acquiring a total of 1,957 shares at prices between $2.65 and $9.86 per share. These transactions were part of a pre-established trading plan under Rule 10b5-1, adopted on December 13, 2023.
Following these transactions, White no longer holds any shares of Disc Medicine.
In other recent news, Disc Medicine has been the focus of several positive developments. Jefferies and H.C. Wainwright have maintained their Buy ratings for Disc Medicine, with price targets of $111 and $118 respectively, based on anticipated positive data from an upcoming presentation of DISC-0974 and the potential for accelerated FDA approval for bitopertin. Scotiabank (TSX:BNS) and BMO Capital Markets have also increased their price targets to $70 and $112 respectively, following positive feedback from the FDA concerning Disc Medicine's phase 3 trial for bitopertin.
Raymond (NS:RYMD) James has elevated Disc Medicine's stock from Outperform to Strong Buy, setting a new price target of $110. The upgrade followed the FDA's willingness to consider an accelerated approval filing for bitopertin. Disc Medicine has also reported promising results from a Phase 1b study of DISC-0974, showing significant reduction in hepcidin levels and improvement in iron mobilization and hemoglobin levels in patients with non-dialysis-dependent chronic kidney disease and anemia.
In addition, Disc Medicine announced a public stock offering of approximately $178 million to advance research and clinical development of its product candidates. On the personnel front, Disc Medicine 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 reflect Disc Medicine's continuous efforts to advance its clinical trials and operations.
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