Geode Capital Management LLC Grows Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Geode Capital Management LLC grew its position in Schrödinger, Inc. (NASDAQ:SDGR) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,319,205 shares of the company’s stock after buying an additional 24,114 shares during the quarter. Geode Capital Management LLC owned 1.81% of Schrödinger worth $24,476,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. KBC Group NV raised its holdings in shares of Schrödinger by 45.4% in the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock valued at $47,000 after acquiring an additional 783 shares in the last quarter. Quarry LP increased its position in Schrödinger by 1,150.0% during the 3rd 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 period. nVerses Capital LLC bought a new stake in shares of Schrödinger in the 2nd quarter valued at about $66,000. Quest Partners LLC raised its holdings in shares of Schrödinger by 1,005.6% in the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after purchasing an additional 4,143 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Schrödinger in the 3rd quarter worth approximately $102,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Schrödinger Stock Down 2.6 %

NASDAQ:SDGR opened at $19.77 on Friday. Schrödinger, Inc. has a 52 week low of $16.67 and a 52 week high of $37.48. The firm has a 50 day moving average of $20.02 and a 200 day moving average of $19.99. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -8.45 and a beta of 1.56.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Tuesday, November 12th. The company reported ($0.52) EPS 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 company had revenue of $35.30 million during the quarter, compared to analyst estimates of $41.25 million. During the same quarter last year, the business earned ($0.86) earnings per share. The firm’s revenue for the quarter was down 17.1% on a year-over-year basis. As a group, analysts expect that Schrödinger, Inc. will post -2.29 EPS for the current year.

Insider Buying and Selling at Schrödinger

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

About Schrödinger

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.