Victory Capital Management Inc. Sells 1,872 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Victory Capital Management Inc. trimmed its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,164 shares of the company’s stock after selling 1,872 shares during the quarter. Victory Capital Management Inc.’s holdings in Schrödinger were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Schrödinger by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock valued at $183,844,000 after buying an additional 32,393 shares during the period. Rubric Capital Management LP increased its stake in shares of Schrödinger by 213.5% during the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock valued at $60,534,000 after buying an additional 2,131,724 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Schrödinger by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after buying an additional 29,920 shares during the period. Stephens Investment Management Group LLC increased its stake in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after buying an additional 436,789 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Schrödinger by 53.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock valued at $23,752,000 after buying an additional 427,594 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Stock Performance

Shares of SDGR stock opened at $22.57 on Friday. Schrödinger, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $38.00. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -9.72 and a beta of 1.50. The stock’s 50-day simple moving average is $18.78 and its 200-day simple moving average is $20.19.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The business had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $41.25 million. During the same quarter in the previous year, the firm posted ($0.86) EPS. Schrödinger’s revenue was down 17.1% on a year-over-year basis. As a group, equities analysts forecast that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now owns 13,469 shares of the company’s stock, valued at $239,478.82. The trade was a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SDGR. Morgan Stanley cut their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets lifted their target price on Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Company Profile

Schrödinger, Inc, together with its subsidiaries, develops physics-based computational platform that enables discovery of novel molecules for drug development and materials applications. The company operates in two segments, Software and Drug Discovery. The Software segment is focused on licensing its software to transform molecular discovery for life sciences and materials science industries.