State Street Corp Increases Position in Schrödinger, Inc. (NASDAQ:SDGR)

State Street Corp raised its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,155,620 shares of the company’s stock after acquiring an additional 38,972 shares during the quarter. State Street Corp owned approximately 2.96% of Schrödinger worth $39,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Stifel Financial Corp lifted its holdings in shares of Schrödinger by 12.3% in the 3rd quarter. Stifel Financial Corp now owns 27,541 shares of the company’s stock worth $511,000 after buying an additional 3,020 shares during the period. Quarry LP grew its stake in Schrödinger by 1,150.0% in the third quarter. Quarry LP now owns 2,825 shares of the company’s stock valued at $52,000 after purchasing an additional 2,599 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Schrödinger in the third quarter valued at about $151,000. Holocene Advisors LP bought a new stake in shares of Schrödinger in the 3rd quarter valued at about $239,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Schrödinger in the third quarter valued at approximately $102,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets raised their price objective on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schrödinger has a consensus rating of “Moderate Buy” and an average target price of $32.90.

Schrödinger Trading Up 0.7 %

Shares of SDGR opened at $19.44 on Friday. The firm has a market cap of $1.42 billion, a P/E ratio of -8.31 and a beta of 1.56. Schrödinger, Inc. has a 12 month low of $16.67 and a 12 month high of $38.00. The stock’s 50 day moving average is $19.78 and its two-hundred day moving average is $20.09.

Schrödinger (NASDAQ:SDGR) last posted 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 analyst estimates of $41.25 million. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. The business’s revenue was down 17.1% compared to the same quarter last year. Equities research analysts forecast that Schrödinger, Inc. will post -2.29 EPS for the current year.

Schrödinger 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.