AlphaQuest LLC Purchases 4,544 Shares of Schrodinger, Inc. $SDGR

AlphaQuest LLC lifted its position in Schrodinger, Inc. (NASDAQ:SDGR) by 22.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 25,189 shares of the company’s stock after purchasing an additional 4,544 shares during the period. AlphaQuest LLC’s holdings in Schrodinger were worth $507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Schrodinger by 30.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company’s stock worth $3,442,000 after purchasing an additional 40,568 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock worth $121,000 after purchasing an additional 3,313 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Schrodinger by 41.6% in the first quarter. Geneos Wealth Management Inc. now owns 84,943 shares of the company’s stock worth $1,677,000 after purchasing an additional 24,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Schrodinger by 169.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,357,532 shares of the company’s stock worth $86,018,000 after purchasing an additional 2,737,728 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Schrodinger in the second quarter worth approximately $294,000. Institutional investors own 79.05% of the company’s stock.

Insiders Place Their Bets

In related news, insider Margaret Dugan sold 1,395 shares of the company’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $21.07, for a total value of $29,392.65. Following the sale, the insider directly owned 24,574 shares of the company’s stock, valued at $517,774.18. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SDGR. The Goldman Sachs Group began coverage on Schrodinger in a research note on Monday, September 29th. They set a “neutral” rating and a $19.00 target price on the stock. Citigroup cut Schrodinger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Schrodinger in a research note on Tuesday, October 14th. Barclays began coverage on Schrodinger in a research note on Thursday, August 14th. They set an “overweight” rating and a $25.00 target price on the stock. Finally, Morgan Stanley reduced their target price on Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Schrodinger presently has a consensus rating of “Hold” and an average price target of $26.29.

Schrodinger Stock Down 1.8%

Shares of SDGR stock opened at $21.77 on Wednesday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -8.78 and a beta of 1.74. The business’s fifty day moving average is $19.93 and its 200 day moving average is $21.51. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.24. The company had revenue of $54.76 million for the quarter, compared to analysts’ expectations of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.66) earnings per share. Equities research analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

About Schrodinger

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.