Tocqueville Asset Management L.P. Trims Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Tocqueville Asset Management L.P. cut its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,148,070 shares of the company’s stock after selling 9,080 shares during the period. Tocqueville Asset Management L.P.’s holdings in Schrödinger were worth $22,146,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SDGR. Avanza Fonder AB acquired a new position in shares of Schrödinger in the 4th quarter valued at $577,000. Barclays PLC raised its holdings in Schrödinger by 421.6% in the 3rd 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 period. State Street Corp lifted its position 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 buying an additional 38,972 shares during the last quarter. Quest Partners LLC boosted its stake in 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 buying an additional 39,218 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position 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 valued at $67,718,000 after acquiring an additional 1,319,464 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Trading Up 3.6 %

Schrödinger stock opened at $23.73 on Tuesday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -10.14 and a beta of 1.62. Schrödinger, Inc. has a twelve month low of $16.67 and a twelve month high of $29.15. The stock’s fifty day simple moving average is $22.75 and its 200-day simple moving average is $20.72.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SDGR shares. KeyCorp increased their price objective on shares of Schrödinger from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Piper Sandler lowered their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $32.29.

Insiders Place Their Bets

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value of $119,484.16. Following the transaction, the chief financial officer now owns 27,544 shares in the company, valued at approximately $599,357.44. This represents a 16.62 % decrease in their position. The transaction 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 company insiders.

Schrödinger 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.