Pier 88 Investment Partners LLC Sells 54,250 Shares of Schrodinger, Inc. $SDGR

Pier 88 Investment Partners LLC lowered its stake in Schrodinger, Inc. (NASDAQ:SDGR) by 80.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,310 shares of the company’s stock after selling 54,250 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Schrodinger were worth $268,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of Schrodinger by 347.4% in the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock worth $26,000 after buying an additional 997 shares during the period. Bayforest Capital Ltd bought a new stake in Schrodinger in the 2nd quarter worth $30,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Schrodinger in the first quarter valued at about $37,000. PNC Financial Services Group Inc. increased its position in shares of Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock valued at $58,000 after acquiring an additional 680 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Schrodinger by 100.0% during the first quarter. Federated Hermes Inc. now owns 10,000 shares of the company’s stock valued at $197,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. KeyCorp cut their target price on Schrodinger from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. Morgan Stanley reduced their target price on Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Barclays began coverage on Schrodinger in a research note on Thursday, August 14th. They issued an “overweight” rating and a $25.00 price target for the company. Finally, Citigroup cut shares of Schrodinger from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $20.00 in a report on Friday, August 15th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Schrodinger presently has a consensus rating of “Hold” and a consensus target price of $26.29.

Schrodinger Stock Performance

Shares of NASDAQ:SDGR opened at $17.78 on Friday. The firm has a market capitalization of $1.31 billion, a P/E ratio of -7.38 and a beta of 1.77. The stock has a 50 day moving average price of $19.97 and a 200-day moving average price of $21.19. Schrodinger, Inc. has a 52-week low of $16.60 and a 52-week high of $28.47.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.27. The company had revenue of $54.32 million for the quarter, compared to analysts’ expectations of $50.51 million. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The firm’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.87) earnings per share. Schrodinger has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Schrodinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling at Schrodinger

In related news, insider Margaret Dugan sold 1,395 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $21.07, for a total value of $29,392.65. Following the completion of the transaction, the insider directly owned 24,574 shares in the company, valued at $517,774.18. This trade represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.00% of the stock is owned by corporate insiders.

Schrodinger 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.