Schrodinger, Inc. $SDGR Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 5.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,649,950 shares of the company’s stock after purchasing an additional 187,535 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Schrodinger were worth $73,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SDGR. Allspring Global Investments Holdings LLC raised its position in shares of Schrodinger by 30.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company’s stock worth $3,442,000 after purchasing an additional 40,568 shares during the period. GAMMA Investing LLC boosted its stake in Schrodinger by 118.5% during the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock valued at $121,000 after purchasing an additional 3,313 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Schrodinger by 41.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 84,943 shares of the company’s stock valued at $1,677,000 after purchasing an additional 24,947 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Schrodinger by 169.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock valued at $86,018,000 after purchasing an additional 2,737,728 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in shares of Schrodinger during the 2nd quarter worth $294,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analysts Set New Price Targets

SDGR has been the subject of several research reports. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley cut their price objective on Schrodinger from $28.00 to $19.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Barclays began coverage on Schrodinger in a report on Thursday, August 14th. They set an “overweight” rating and a $25.00 price objective for 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 report on Wednesday, October 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Schrodinger in a report on Tuesday, October 14th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.29.

Schrodinger Stock Up 2.6%

SDGR stock opened at $22.52 on Monday. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The company has a market cap of $1.66 billion, a PE ratio of -9.08 and a beta of 1.74. The business’s 50-day simple moving average is $19.84 and its 200 day simple moving average is $21.47.

Schrodinger (NASDAQ:SDGR) last released its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.24. The business had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business earned ($0.66) earnings per share. On average, equities research analysts anticipate that Schrodinger, Inc. will post -2.37 EPS for the current year.

Insiders Place Their Bets

In other Schrodinger news, insider Margaret Dugan sold 1,395 shares of Schrodinger stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $21.07, for a total transaction of $29,392.65. Following the sale, the insider directly owned 24,574 shares of the company’s stock, valued at approximately $517,774.18. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.00% 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.