Verity Asset Management Inc. Takes Position in Schrodinger, Inc. $SDGR

Verity Asset Management Inc. acquired a new stake in shares of Schrodinger, Inc. (NASDAQ:SDGR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 45,251 shares of the company’s stock, valued at approximately $910,000. Verity Asset Management Inc. owned 0.06% of Schrodinger as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SDGR. Farther Finance Advisors LLC increased its stake in Schrodinger by 347.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock worth $26,000 after buying an additional 997 shares during the period. Bayforest Capital Ltd purchased a new stake in Schrodinger during the 2nd quarter worth $30,000. ANTIPODES PARTNERS Ltd purchased a new stake in Schrodinger during the 1st quarter worth $37,000. PNC Financial Services Group Inc. increased its stake in Schrodinger by 29.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock worth $58,000 after buying an additional 680 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock worth $121,000 after acquiring an additional 3,313 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrodinger Trading Up 2.8%

Shares of NASDAQ SDGR opened at $21.04 on Monday. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.48 and a beta of 1.77. The business has a 50 day simple moving average of $20.00 and a 200-day simple moving average of $21.39.

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

Insiders Place Their Bets

In related news, insider Margaret Dugan sold 1,395 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $21.07, for a total transaction of $29,392.65. Following the completion of the sale, the insider owned 24,574 shares of the company’s stock, valued at $517,774.18. This represents a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on SDGR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Schrodinger in a report on Tuesday, October 14th. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Citigroup lowered Schrodinger from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $20.00 in a research report on Friday, August 15th. Barclays initiated coverage on Schrodinger in a research report on Thursday, August 14th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, KeyCorp cut their price target on shares of Schrodinger from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.29.

Schrodinger 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.