17,493 Shares in Schrodinger, Inc. (NASDAQ:SDGR) Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC bought a new position in Schrodinger, Inc. (NASDAQ:SDGR) during the 1st quarter, Holdings Channel reports. The institutional investor bought 17,493 shares of the company’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Schrodinger in the fourth quarter worth approximately $27,000. Paradigm Asset Management Co. LLC bought a new position in Schrodinger in the fourth quarter worth approximately $50,000. GAMMA Investing LLC raised its position in Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock worth $121,000 after acquiring an additional 3,313 shares during the period. XTX Topco Ltd bought a new position in Schrodinger in the fourth quarter worth approximately $199,000. Finally, Bayesian Capital Management LP bought a new position in Schrodinger in the fourth quarter worth approximately $199,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrodinger Price Performance

Shares of SDGR stock opened at $20.46 on Monday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -7.78 and a beta of 1.64. Schrodinger, Inc. has a one year low of $16.60 and a one year high of $28.47. The company’s fifty day moving average price is $23.72 and its 200-day moving average price is $22.38.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The firm’s revenue for the quarter was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.86) earnings per share. Equities research analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SDGR has been the topic of several recent research reports. Piper Sandler decreased their price target on shares of Schrodinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. KeyCorp increased their price target on shares of Schrodinger from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.80.

Insider Activity

In other news, insider Karen Akinsanya sold 16,723 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider now directly owns 15,625 shares in the company, valued at $392,031.25. This trade represents a 51.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Schrodinger Company 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.