Zurcher Kantonalbank Zurich Cantonalbank Has $610,000 Position in Schrödinger, Inc. (NASDAQ:SDGR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,048 shares of the company’s stock after purchasing an additional 1,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Schrödinger were worth $610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new position in Schrödinger during the fourth quarter worth approximately $222,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Schrödinger by 60.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,300,750 shares of the company’s stock worth $82,367,000 after acquiring an additional 865,867 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Schrödinger in the 4th quarter valued at $981,000. Geneos Wealth Management Inc. lifted its holdings in Schrödinger by 144.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 21,816 shares of the company’s stock valued at $781,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Schrödinger by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,519 shares of the company’s stock worth $878,000 after purchasing an additional 1,278 shares during the period. 79.05% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

SDGR has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Piper Sandler decreased their target price on Schrödinger from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. KeyCorp dropped their price target on Schrödinger from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Bank of America decreased their price objective on Schrödinger from $38.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Finally, TD Cowen assumed coverage on Schrödinger in a report on Friday, January 26th. They set an “outperform” rating and a $42.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.50.

Schrödinger Stock Up 3.6 %

SDGR opened at $25.26 on Thursday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 40.10 and a beta of 1.57. Schrödinger, Inc. has a twelve month low of $20.76 and a twelve month high of $59.24. The company has a 50-day simple moving average of $26.48 and a 200 day simple moving average of $28.29.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping 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 company had revenue of $74.10 million during the quarter, compared to the consensus estimate of $79.12 million. During the same quarter in the prior year, the firm posted ($0.39) EPS. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. Sell-side analysts anticipate that Schrödinger, Inc. will post -2.73 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.