Bank of New York Mellon Corp Sells 10,251 Shares of Schrodinger, Inc. (NASDAQ:SDGR)

Bank of New York Mellon Corp reduced its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,459 shares of the company’s stock after selling 10,251 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of Schrodinger worth $7,925,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Schrodinger in the fourth quarter valued at approximately $218,000. Raymond James Financial Inc. acquired a new position in shares of Schrodinger during the fourth quarter worth $325,000. Swiss National Bank increased its position in shares of Schrodinger by 1.2% during the fourth quarter. Swiss National Bank now owns 125,100 shares of the company’s stock worth $2,413,000 after purchasing an additional 1,500 shares in the last quarter. Sei Investments Co. increased its position in shares of Schrodinger by 9.5% in the 4th quarter. Sei Investments Co. now owns 20,304 shares of the company’s stock valued at $392,000 after acquiring an additional 1,755 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Schrodinger in the 4th quarter valued at $264,000. 79.05% of the stock is owned by institutional investors.

Schrodinger Stock Performance

Shares of SDGR opened at $22.77 on Wednesday. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -8.66 and a beta of 1.58. The firm has a 50-day simple moving average of $21.94 and a 200-day simple moving average of $22.45.

Schrodinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The company had revenue of $59.55 million during the quarter, compared to analysts’ expectations of $54.60 million. During the same period last year, the business posted ($0.86) earnings per share. The company’s quarterly revenue was up 62.7% on a year-over-year basis. Equities research analysts forecast that Schrodinger, Inc. will post -2.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of Schrodinger from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, July 14th. Morgan Stanley assumed coverage on shares of Schrodinger in a report on Thursday, July 3rd. They issued an “equal weight” rating and a $28.00 price objective for the company.

Schrodinger 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.