Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Schrödinger, Inc. (NASDAQ:SDGR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,472 shares of the company’s stock, valued at approximately $373,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its stake in Schrödinger by 47.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 20,100 shares of the company’s stock valued at $984,000 after purchasing an additional 6,500 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in Schrödinger in the 2nd quarter worth about $17,832,000. State of Alaska Department of Revenue purchased a new position in Schrödinger in the 2nd quarter worth about $1,761,000. K.J. Harrison & Partners Inc bought a new position in Schrödinger during the 2nd quarter valued at about $302,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Schrödinger by 620.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,160 shares of the company’s stock valued at $108,000 after acquiring an additional 1,860 shares during the last quarter. Institutional investors own 81.14% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on SDGR shares. BMO Capital Markets lowered their price objective on shares of Schrödinger from $78.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Morgan Stanley restated an “equal weight” rating and issued a $52.00 price target on shares of Schrödinger in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.
Insiders Place Their Bets
In other news, EVP Kenneth Patrick Lorton sold 10,000 shares of Schrödinger stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $40.06, for a total transaction of $400,600.00. Following the transaction, the executive vice president now directly owns 37,388 shares of the company’s stock, valued at approximately $1,497,763.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.60% of the company’s stock.
Schrödinger Price Performance
Shares of Schrödinger stock opened at $25.02 on Friday. Schrödinger, Inc. has a 1-year low of $15.85 and a 1-year high of $59.24. The company’s fifty day simple moving average is $28.77 and its 200-day simple moving average is $35.71. The stock has a market capitalization of $1.80 billion, a PE ratio of 29.09 and a beta of 1.41.
Schrödinger (NASDAQ:SDGR – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.22. Schrödinger had a negative return on equity of 20.98% and a net margin of 34.24%. The company had revenue of $35.19 million for the quarter, compared to the consensus estimate of $35.28 million. As a group, research analysts anticipate that Schrödinger, Inc. will post 0.4 EPS for the current year.
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.
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