Raymond James Financial Services Advisors Inc. Takes Position in Schrödinger, Inc. (NASDAQ:SDGR)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Schrödinger, Inc. (NASDAQ:SDGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,840 shares of the company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund bought a new position in shares of Schrödinger during the 3rd quarter valued at approximately $905,000. TrueMark Investments LLC bought a new position in shares of Schrödinger during the 4th quarter valued at approximately $1,469,000. Avidity Partners Management LP lifted its stake in shares of Schrödinger by 45.1% during the 3rd quarter. Avidity Partners Management LP now owns 399,000 shares of the company’s stock valued at $11,280,000 after buying an additional 124,100 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of Schrödinger by 75.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 150,514 shares of the company’s stock valued at $4,255,000 after buying an additional 64,489 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Schrödinger by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,698,801 shares of the company’s stock valued at $189,375,000 after buying an additional 28,981 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Schrödinger Price Performance

NASDAQ SDGR opened at $24.49 on Tuesday. Schrödinger, Inc. has a 1 year low of $20.76 and a 1 year high of $59.24. The stock has a market capitalization of $1.77 billion, a PE ratio of 38.87 and a beta of 1.57. The company’s 50 day simple moving average is $27.18 and its two-hundred day simple moving average is $28.36.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The business had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $79.12 million. During the same period in the prior year, the company posted ($0.39) EPS. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, research analysts anticipate that Schrödinger, Inc. will post -2.73 EPS for the current year.

Insider Activity

In other news, insider Robert Lorne Abel sold 1,205 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Robert Lorne Abel sold 1,205 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $27.55, for a total transaction of $33,197.75. Following the sale, the insider now owns 9,340 shares in the company, valued at approximately $257,317. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the sale, the chief operating officer now owns 36,487 shares in the company, valued at approximately $1,032,217.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,651 shares of company stock worth $102,395. 7.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen assumed coverage on shares of Schrödinger in a research note on Friday, January 26th. They set an “outperform” rating and a $42.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, March 1st. Citigroup dropped their price target on shares of Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Craig Hallum dropped their price target on shares of Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Finally, KeyCorp dropped their price target on shares of Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.50.

About Schrödinger

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.