Nikko Asset Management Americas Inc. Boosts Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Nikko Asset Management Americas Inc. raised its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 108.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,464,911 shares of the company’s stock after purchasing an additional 1,283,949 shares during the period. Nikko Asset Management Americas Inc. owned 3.38% of Schrödinger worth $47,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avanza Fonder AB purchased a new position in Schrödinger in the fourth quarter valued at about $577,000. Barclays PLC grew its stake in Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company’s stock valued at $1,995,000 after purchasing an additional 86,933 shares during the last quarter. State Street Corp grew its stake in Schrödinger by 1.8% in the third quarter. State Street Corp now owns 2,155,620 shares of the company’s stock valued at $39,987,000 after purchasing an additional 38,972 shares during the last quarter. Quest Partners LLC grew its stake in shares of Schrödinger by 861.0% during the third quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock worth $812,000 after acquiring an additional 39,218 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Schrödinger by 60.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company’s stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling at Schrödinger

In other Schrödinger news, CFO Geoffrey Craig Porges sold 5,491 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value of $119,484.16. Following the completion of the transaction, the chief financial officer now directly owns 27,544 shares of the company’s stock, valued at approximately $599,357.44. The trade was a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SDGR. KeyCorp boosted their price target on Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Piper Sandler dropped their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger has a consensus rating of “Buy” and an average price target of $32.29.

Schrödinger Stock Up 4.4 %

Schrödinger stock opened at $22.90 on Monday. Schrödinger, Inc. has a 52 week low of $16.67 and a 52 week high of $29.15. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -9.79 and a beta of 1.62. The stock has a 50-day moving average price of $22.69 and a 200 day moving average price of $20.70.

Schrödinger (NASDAQ:SDGR) last released its earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm had revenue of $88.32 million for the quarter, compared to analyst estimates of $83.20 million. Research analysts anticipate that Schrödinger, Inc. will post -2.37 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.