Wells Fargo & Company MN Reduces Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Wells Fargo & Company MN trimmed its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,380 shares of the company’s stock after selling 21,983 shares during the quarter. Wells Fargo & Company MN owned approximately 0.05% of Schrödinger worth $721,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SDGR. Paradigm Asset Management Co. LLC acquired a new stake in shares of Schrödinger during the fourth quarter worth $50,000. GAMMA Investing LLC lifted its holdings 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 in the last quarter. KBC Group NV increased its holdings in Schrödinger by 73.9% during the 4th quarter. KBC Group NV now owns 4,361 shares of the company’s stock worth $84,000 after purchasing an additional 1,853 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Schrödinger in the 4th quarter worth about $218,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Schrödinger in the 4th quarter valued at about $264,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrödinger Stock Down 2.9 %

Shares of Schrödinger stock opened at $24.88 on Friday. The business has a fifty day simple moving average of $22.29 and a 200-day simple moving average of $21.50. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -10.63 and a beta of 1.77. Schrödinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

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

Analyst Ratings Changes

SDGR has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Schrödinger from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. Piper Sandler dropped their price objective on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $33.00.

Insider Buying and Selling at Schrödinger

In other news, insider Karen Akinsanya sold 16,723 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Geoffrey Craig Porges sold 5,491 shares of Schrödinger stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value 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 $599,357.44. This represents a 16.62 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.

Schrödinger 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.