The Manufacturers Life Insurance Company Sells 752 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

The Manufacturers Life Insurance Company trimmed its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,834 shares of the company’s stock after selling 752 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Schrödinger were worth $537,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Schrödinger in the fourth quarter worth $965,000. Price T Rowe Associates Inc. MD raised its stake in shares of Schrödinger by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,009 shares of the company’s stock worth $811,000 after purchasing an additional 3,376 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Schrödinger by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 34,554 shares of the company’s stock worth $667,000 after purchasing an additional 1,825 shares during the last quarter. Natixis purchased a new position in shares of Schrödinger in the fourth quarter worth $1,750,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Schrödinger by 4.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 72,765 shares of the company’s stock worth $1,402,000 after purchasing an additional 2,904 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SDGR shares. Piper Sandler decreased their price target on Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. KeyCorp upped their price objective on Schrödinger from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.80.

Insiders Place Their Bets

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

Schrödinger Stock Performance

Schrödinger stock opened at $23.58 on Friday. The stock has a market cap of $1.72 billion, a PE ratio of -10.08 and a beta of 1.84. Schrödinger, Inc. has a one year low of $16.60 and a one year high of $28.47. The stock has a fifty day moving average of $22.89 and a 200 day moving average of $21.96.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). The company had revenue of $59.55 million during the quarter, compared to analysts’ expectations of $54.60 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The business’s quarterly revenue was up 62.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.86) EPS. As a group, sell-side analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

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.