Prosight Management LP Increases Position in Schrödinger, Inc. (NASDAQ:SDGR)

Prosight Management LP lifted its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 2.9% in the fourth quarter, Holdings Channel reports. The firm owned 720,500 shares of the company’s stock after buying an additional 20,500 shares during the period. Schrödinger comprises about 3.8% of Prosight Management LP’s portfolio, making the stock its 11th largest position. Prosight Management LP’s holdings in Schrödinger were worth $13,898,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Parkman Healthcare Partners LLC boosted its position in shares of Schrödinger by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 563,091 shares of the company’s stock worth $10,862,000 after purchasing an additional 3,986 shares in the last quarter. Millennium Management LLC boosted its position in shares of Schrödinger by 42.3% in the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company’s stock worth $14,692,000 after purchasing an additional 226,536 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Schrödinger by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company’s stock worth $610,000 after purchasing an additional 1,202 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Schrödinger by 3.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company’s stock worth $32,810,000 after purchasing an additional 58,541 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of Schrödinger by 7.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 25,643 shares of the company’s stock worth $495,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrödinger Stock Performance

Schrödinger stock opened at $23.92 on Thursday. The business’s 50-day simple moving average is $22.78 and its two-hundred day simple moving average is $21.89. The company has a market cap of $1.75 billion, a PE ratio of -10.22 and a beta of 1.84. Schrödinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The company had revenue of $59.55 million during the quarter, compared to analyst estimates of $54.60 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The business’s quarterly revenue was up 62.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.86) EPS. As a group, analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Activity

In related news, insider Karen Akinsanya sold 16,723 shares of Schrödinger stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the completion of the transaction, the insider now owns 15,625 shares in the company, valued at $392,031.25. The trade was a 51.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Geoffrey Craig Porges sold 5,491 shares of Schrödinger stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total value of $119,484.16. Following the completion of the transaction, the chief financial officer now owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. This represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Schrödinger from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Piper Sandler lowered their price objective on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Schrödinger presently has a consensus rating of “Buy” and an average target price of $32.80.

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.