Long Position on IRON @ $49.00 on 6/15/2023 (Momentum)

Disc Medicine Opco Inc. (IRON) operates as a clinical-stage biotechnology company. It engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 

The company builds a portfolio of fundamental biological pathways of red blood cell biology, primarily heme biosynthesis and iron homeostasis. It also develops bitopertin for the treatment of erythropoietic porphyrias, erythropoietic protoporphyria, and X-linked protoporphyria.

In addition, the company develops DISC-0974 for the treatment of chronic kidney disease; MWTX-003 for the treatment of polycythemia vera, and other hematologic disorders; and DISC-0998 for the treatment of anemia associated with inflammatory.

Shares have formed a bullish "flag" after it offered a seconday offering. The Company sold 2,595,919 shares of common shares at $49 a share. The offer was over subscribed which indicates there is appetite for the stock. Higher share prices are expected.

Entry Point: $49.00

Stop Loss: $46.75

Trading Range: $15.00 - $63.60

Target Price: $54.00

Position closed on 6/30/2023 at price of $46.75 with a -4.59% loss in 14 days.

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