Allspring Global Investments Holdings LLC Reduces Stock Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,803 shares of the company’s stock after selling 7,941 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.18% of Schrödinger worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC grew its stake in Schrödinger by 4.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,607,656 shares of the company’s stock worth $31,012,000 after buying an additional 67,786 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after buying an additional 1,319,464 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in Schrödinger by 8.4% during the 4th quarter. Redwood Wealth Management Group LLC now owns 14,620 shares of the company’s stock worth $283,000 after buying an additional 1,132 shares during the last quarter. KBC Group NV grew its stake in Schrödinger by 73.9% during the 4th quarter. KBC Group NV now owns 4,361 shares of the company’s stock worth $84,000 after buying an additional 1,853 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Schrödinger by 15.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 59,996 shares of the company’s stock worth $1,157,000 after buying an additional 8,021 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Stock Performance

Schrödinger stock opened at $22.64 on Friday. Schrödinger, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $33.63. The company has a market cap of $1.65 billion, a PE ratio of -9.68 and a beta of 1.61. The business’s 50-day simple moving average is $22.19 and its two-hundred day simple moving average is $20.49.

Analysts Set New Price Targets

SDGR has been the topic of several research analyst reports. KeyCorp boosted their target price on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. BMO Capital Markets boosted their price target 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, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schrödinger currently has an average rating of “Moderate Buy” and an average target price of $32.11.

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.