JPMorgan Chase & Co. Boosts Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

JPMorgan Chase & Co. raised its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,702 shares of the company’s stock after acquiring an additional 4,403 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of Schrödinger worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its holdings in Schrödinger by 5.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock valued at $242,000 after acquiring an additional 622 shares in the last quarter. KBC Group NV boosted its stake in shares of Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after purchasing an additional 783 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Schrödinger by 4.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 23,893 shares of the company’s stock worth $462,000 after purchasing an additional 950 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Schrödinger by 20.5% during the 3rd quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock worth $225,000 after purchasing an additional 2,065 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Schrödinger by 1,150.0% during the 3rd quarter. Quarry LP now owns 2,825 shares of the company’s stock worth $52,000 after purchasing an additional 2,599 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat, Schrödinger presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Stock Performance

NASDAQ SDGR opened at $21.33 on Wednesday. Schrödinger, Inc. has a one year low of $16.67 and a one year high of $33.63. The company’s 50 day moving average price is $20.46 and its 200 day moving average price is $19.99. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -9.12 and a beta of 1.59.

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