Sumitomo Mitsui Trust Group Inc. Purchases 29,920 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,191,054 shares of the company’s stock after purchasing an additional 29,920 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 3.01% of Schrödinger worth $40,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in shares of Schrödinger by 5.0% in the third quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock valued at $242,000 after acquiring an additional 622 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Schrödinger by 39.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after purchasing an additional 436,789 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Schrödinger by 20.5% in the 3rd quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock valued at $225,000 after purchasing an additional 2,065 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Schrödinger in the 3rd quarter worth approximately $313,000. Finally, Creative Planning bought a new position in shares of Schrödinger during the second quarter valued at approximately $425,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of recent research reports. BMO Capital Markets upped their target price on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley decreased their price objective on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.90.

Insider Activity

In other news, insider Margaret Dugan sold 1,531 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the transaction, the insider now directly owns 13,469 shares in the company, valued at $239,478.82. This trade represents a 10.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Schrödinger Stock Performance

Schrödinger stock opened at $18.54 on Friday. Schrödinger, Inc. has a one year low of $16.67 and a one year high of $38.00. The stock has a market cap of $1.35 billion, a PE ratio of -7.92 and a beta of 1.50. The stock has a 50-day moving average of $18.72 and a two-hundred day moving average of $20.38.

Schrödinger (NASDAQ:SDGR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. During the same period in the previous year, the business earned ($0.86) earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, sell-side analysts predict that Schrödinger, Inc. will post -2.19 EPS for the current fiscal year.

Schrödinger 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.