Paradigm Asset Management Co. LLC Acquires New Shares in Schrödinger, Inc. (NASDAQ:SDGR)

Paradigm Asset Management Co. LLC bought a new position in Schrödinger, Inc. (NASDAQ:SDGR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,600 shares of the company’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SDGR. Sumitomo Mitsui Trust Group Inc. lifted its stake in Schrödinger by 60.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after purchasing an additional 1,319,464 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Schrödinger by 58.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after purchasing an additional 717,059 shares during the period. Rubric Capital Management LP grew its holdings in shares of Schrödinger by 17.7% during the third quarter. Rubric Capital Management LP now owns 3,685,503 shares of the company’s stock valued at $68,366,000 after buying an additional 555,503 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after buying an additional 436,789 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Schrödinger by 421.6% during the third quarter. Barclays PLC now owns 107,554 shares of the company’s stock valued at $1,995,000 after buying an additional 86,933 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SDGR. BMO Capital Markets raised their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp raised their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.11.

Schrödinger Stock Performance

SDGR opened at $22.64 on Friday. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -9.68 and a beta of 1.61. The company has a fifty day moving average of $22.19 and a 200 day moving average of $20.50. Schrödinger, Inc. has a fifty-two week low of $16.67 and a fifty-two week high of $33.63.

About Schrödinger

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.