JPMorgan Chase & Co. Buys 2,777 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

JPMorgan Chase & Co. grew its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,479 shares of the company’s stock after purchasing an additional 2,777 shares during the period. JPMorgan Chase & Co. owned approximately 0.17% of Schrödinger worth $2,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SDGR. Paradigm Asset Management Co. LLC purchased a new stake in Schrödinger in the fourth quarter worth $50,000. GAMMA Investing LLC increased its stake in Schrödinger by 87.5% in the 4th quarter. GAMMA Investing LLC now owns 2,796 shares of the company’s stock worth $54,000 after buying an additional 1,305 shares during the period. KBC Group NV lifted its holdings in Schrödinger by 73.9% during the 4th quarter. KBC Group NV now owns 4,361 shares of the company’s stock valued at $84,000 after buying an additional 1,853 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Schrödinger in the 4th quarter valued at about $218,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Schrödinger in the 4th quarter valued at about $264,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the transaction, the chief financial officer now directly owns 27,544 shares in the company, valued at approximately $599,357.44. This represents a 16.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Karen Akinsanya sold 16,723 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the sale, the insider now directly owns 15,625 shares of the company’s stock, valued at $392,031.25. The trade was a 51.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SDGR shares. KeyCorp lifted their price objective on Schrödinger from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th. Piper Sandler lowered their price target on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.00.

Schrödinger Stock Performance

Shares of Schrödinger stock opened at $25.49 on Thursday. The company’s fifty day moving average is $22.10 and its two-hundred day moving average is $21.15. Schrödinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47. The company has a market capitalization of $1.86 billion, a P/E ratio of -10.89 and a beta of 1.77.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). The business had revenue of $88.32 million during the quarter, compared to analyst estimates of $83.20 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. As a group, equities analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

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.