Checkpoint Capital L.P. Takes Position in Disc Medicine, Inc. (NASDAQ:IRON)

Checkpoint Capital L.P. purchased a new position in shares of Disc Medicine, Inc. (NASDAQ:IRON) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 25,543 shares of the company’s stock, valued at approximately $1,255,000. Disc Medicine accounts for approximately 0.6% of Checkpoint Capital L.P.’s investment portfolio, making the stock its 14th largest holding. Checkpoint Capital L.P. owned approximately 0.09% of Disc Medicine at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. boosted its position in shares of Disc Medicine by 123.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after buying an additional 969,834 shares during the period. Logos Global Management LP bought a new stake in shares of Disc Medicine during the 2nd quarter worth approximately $41,690,000. Point72 Asset Management L.P. purchased a new position in Disc Medicine during the 2nd quarter valued at $34,318,000. Deerfield Management Company L.P. Series C grew its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares during the last quarter. Finally, Atlas Venture Life Science Advisors LLC increased its stake in Disc Medicine by 9.7% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,509,456 shares of the company’s stock worth $113,101,000 after purchasing an additional 222,223 shares during the period. 83.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Disc Medicine news, Director William Richard White sold 7,136 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William Jacob Savage sold 14,183 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $65.45, for a total transaction of $928,277.35. Following the transaction, the insider now owns 40,405 shares in the company, valued at $2,644,507.25. The trade was a 25.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,879 shares of company stock worth $1,912,335 in the last ninety days. 4.24% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IRON shares. Wedbush reissued an “outperform” rating and set a $83.00 target price (up from $75.00) on shares of Disc Medicine in a research note on Tuesday, November 12th. Jefferies Financial Group initiated coverage on shares of Disc Medicine in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Disc Medicine in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $75.00 target price on the stock. HC Wainwright lifted their price target on shares of Disc Medicine from $70.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Scotiabank increased their price objective on Disc Medicine from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.80.

Disc Medicine Stock Performance

IRON stock opened at $63.45 on Monday. Disc Medicine, Inc. has a one year low of $25.60 and a one year high of $77.60. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -15.94 and a beta of 0.60. The firm has a 50-day simple moving average of $54.05 and a two-hundred day simple moving average of $47.37.

Disc Medicine (NASDAQ:IRON) last announced its earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.15. As a group, equities analysts predict that Disc Medicine, Inc. will post -4.05 earnings per share for the current fiscal year.

Disc Medicine Profile

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.