Checkpoint Capital L.P. Acquires 58,311 Shares of Disc Medicine, Inc. $IRON

Key Points

• Checkpoint Capital L.P. increased its stake in Disc Medicine, Inc. by 31.5%, acquiring an additional 58,311 shares, which now constitutes around 6.6% of its investment portfolio worth approximately $12 million.
• Insider trading activity showed that CEO John D. Quisel sold 34,800 shares at $55.33 each, and insider William Jacob Savage sold 2,996 shares at $50.00 each, indicating a decrease in their respective ownerships.
• Analysts have shown a positive outlook on Disc Medicine, with an average rating of "Buy" and a consensus price target of approximately $98.30 among multiple brokerages.

Checkpoint Capital L.P. boosted its holdings in Disc Medicine, Inc. (NASDAQ:IRON - Free Report) by 31.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 243,311 shares of the company's stock after acquiring an additional 58,311 shares during the period. Disc Medicine accounts for about 6.6% of Checkpoint Capital L.P.'s investment portfolio, making the stock its 5th largest position. Checkpoint Capital L.P. owned about 0.70% of Disc Medicine worth $12,078,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IRON. Dimensional Fund Advisors LP grew its stake in Disc Medicine by 160.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 139,720 shares of the company's stock valued at $8,856,000 after acquiring an additional 86,154 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Disc Medicine by 47.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 825 shares of the company's stock valued at $52,000 after acquiring an additional 266 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Disc Medicine in the 4th quarter valued at about $847,000. The Manufacturers Life Insurance Company grew its stake in Disc Medicine by 32.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 38,459 shares of the company's stock valued at $2,438,000 after acquiring an additional 9,394 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Disc Medicine by 9.5% in the 4th quarter. Northern Trust Corp now owns 187,017 shares of the company's stock valued at $11,857,000 after acquiring an additional 16,299 shares during the last quarter. 83.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Disc Medicine

In related news, insider William Jacob Savage sold 2,996 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $50.00, for a total value of $149,800.00. Following the transaction, the insider owned 56,725 shares in the company, valued at approximately $2,836,250. This trade represents a 5.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John D. Quisel sold 34,800 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $55.33, for a total transaction of $1,925,484.00. Following the completion of the transaction, the chief executive officer owned 161,828 shares in the company, valued at $8,953,943.24. The trade was a 17.70% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,909 shares of company stock worth $8,006,371. 3.64% of the stock is currently owned by corporate insiders.

Disc Medicine Trading Up 0.3%

Shares of IRON stock opened at $61.59 on Thursday. The firm has a market cap of $2.14 billion, a P/E ratio of -13.78 and a beta of 0.77. Disc Medicine, Inc. has a 1-year low of $30.82 and a 1-year high of $68.73. The company has a debt-to-equity ratio of 0.05, a current ratio of 32.11 and a quick ratio of 32.11. The firm's 50-day simple moving average is $58.20 and its 200-day simple moving average is $51.99.

Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.41). As a group, equities analysts forecast that Disc Medicine, Inc. will post -4.07 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on IRON. BMO Capital Markets increased their price objective on shares of Disc Medicine from $112.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Truist Financial began coverage on shares of Disc Medicine in a research note on Monday, July 21st. They set a "buy" rating and a $86.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and set a $90.00 price target on shares of Disc Medicine in a research note on Monday, July 21st. HC Wainwright reaffirmed a "buy" rating and set a $118.00 price target on shares of Disc Medicine in a research note on Thursday, July 3rd. Finally, Raymond James Financial began coverage on shares of Disc Medicine in a research note on Wednesday, June 11th. They set a "strong-buy" rating and a $89.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $98.30.

About Disc Medicine

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.

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