KMG Fiduciary Partners LLC purchased a new position in Schrödinger, Inc. (NASDAQ:SDGR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,530 shares of the company’s stock, valued at approximately $209,000.
A number of other hedge funds also recently added to or reduced their stakes in SDGR. Bank of New York Mellon Corp grew its stake in Schrödinger by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 51,811 shares of the company’s stock worth $4,744,000 after buying an additional 15,282 shares in the last quarter. American International Group Inc. grew its stake in Schrödinger by 3.5% in the 2nd quarter. American International Group Inc. now owns 8,443 shares of the company’s stock worth $773,000 after buying an additional 283 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Schrödinger in the 2nd quarter worth approximately $229,000. Advisor Group Holdings Inc. grew its stake in Schrödinger by 1,327.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 9,906 shares of the company’s stock worth $907,000 after buying an additional 9,212 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Schrödinger by 87.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,380,537 shares of the company’s stock worth $126,417,000 after buying an additional 643,238 shares in the last quarter. 36.07% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on SDGR. Jefferies Financial Group upgraded shares of Schrödinger from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $70.00 to $75.00 in a report on Monday, October 12th. BidaskClub lowered shares of Schrödinger from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 30th. Bank of America upgraded shares of Schrödinger from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Monday, November 23rd. Finally, Morgan Stanley lowered their price objective on shares of Schrödinger from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, November 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $83.20.
Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Thursday, November 12th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $25.80 million for the quarter, compared to the consensus estimate of $23.51 million. The company’s quarterly revenue was up 29.0% on a year-over-year basis. Equities research analysts expect that Schrödinger, Inc. will post -0.53 EPS for the current fiscal year.
In other Schrödinger news, major shareholder David E. Shaw sold 122,000 shares of the company’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $48.55, for a total value of $5,923,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Lynton sold 8,333 shares of the company’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $80.00, for a total transaction of $666,640.00. Following the completion of the sale, the director now directly owns 8,333 shares in the company, valued at $666,640. The disclosure for this sale can be found here. Insiders sold a total of 2,892,963 shares of company stock valued at $174,664,922 over the last 90 days.
Schrödinger Company Profile
SchrÃ¶dinger, Inc provides computational platform to accelerate drug discovery and materials design for biopharmaceutical and industrial companies, academic institutions, and government laboratories worldwide. The company operates through two segments, Software and Drug Discovery. Its segment is focused on selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.
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