Schrödinger, Inc. (NASDAQ:SDGR) Stake Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,586 shares of the company’s stock after selling 521 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Schrödinger were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rubric Capital Management LP grew its stake in shares of Schrödinger by 213.5% in the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock worth $60,534,000 after purchasing an additional 2,131,724 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Schrödinger by 58.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock valued at $36,083,000 after buying an additional 717,059 shares in the last quarter. Millennium Management LLC increased its stake in Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after buying an additional 471,399 shares during the period. Stephens Investment Management Group LLC raised its position in shares of Schrödinger by 39.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after buying an additional 436,789 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of Schrödinger by 246.0% in the 2nd quarter. Algert Global LLC now owns 87,220 shares of the company’s stock worth $1,687,000 after acquiring an additional 62,010 shares during the period. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SDGR. Morgan Stanley cut their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 21st. BMO Capital Markets boosted their price objective on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schrödinger currently has an average rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Stock Down 1.1 %

Shares of NASDAQ SDGR opened at $20.83 on Friday. Schrödinger, Inc. has a 12 month low of $16.67 and a 12 month high of $38.00. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -8.90 and a beta of 1.56. The business has a fifty day simple moving average of $19.51 and a 200-day simple moving average of $20.11.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The firm had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $41.25 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. Schrödinger’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.86) earnings per share. As a group, sell-side analysts expect that Schrödinger, Inc. will post -2.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the sale, the insider now owns 13,469 shares in the company, valued at $239,478.82. This represents a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Schrödinger Company 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.