Raymond James & Associates Increases Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Raymond James & Associates lifted its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 55.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,337 shares of the company’s stock after purchasing an additional 6,552 shares during the quarter. Raymond James & Associates’ holdings in Schrödinger were worth $656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Illinois Municipal Retirement Fund purchased a new position in shares of Schrödinger in the 3rd quarter valued at approximately $905,000. TrueMark Investments LLC purchased a new position in shares of Schrödinger in the 4th quarter valued at approximately $1,469,000. Avidity Partners Management LP raised its position in shares of Schrödinger by 45.1% in the 3rd quarter. Avidity Partners Management LP now owns 399,000 shares of the company’s stock valued at $11,280,000 after purchasing an additional 124,100 shares during the last quarter. Integrated Advisors Network LLC raised its position in Schrödinger by 75.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 150,514 shares of the company’s stock worth $4,255,000 after buying an additional 64,489 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Schrödinger by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,698,801 shares of the company’s stock worth $189,375,000 after buying an additional 28,981 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schrödinger

In related news, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the sale, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Lorne Abel sold 1,205 shares of Schrödinger stock in a transaction on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the transaction, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,651 shares of company stock valued at $102,395. 7.60% of the stock is owned by company insiders.

Schrödinger Stock Performance

Schrödinger stock opened at $24.04 on Thursday. The company’s fifty day moving average price is $27.07 and its 200 day moving average price is $28.31. Schrödinger, Inc. has a 1 year low of $20.76 and a 1 year high of $59.24. The stock has a market capitalization of $1.74 billion, a P/E ratio of 38.16 and a beta of 1.57.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.12. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The firm had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $79.12 million. During the same quarter last year, the company earned ($0.39) EPS. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts predict that Schrödinger, Inc. will post -2.73 EPS for the current year.

Wall Street Analyst Weigh In

SDGR has been the subject of a number of recent research reports. Piper Sandler reduced their price target on shares of Schrödinger from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Bank of America reduced their price target on shares of Schrödinger from $38.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Craig Hallum reduced their price target on shares of Schrödinger from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, January 19th. KeyCorp reduced their price target on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group reduced their price target on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.50.

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.