Schrodinger, Inc. $SDGR Shares Sold by Northern Trust Corp

Northern Trust Corp cut its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,778 shares of the company’s stock after selling 17,840 shares during the period. Northern Trust Corp owned approximately 0.80% of Schrodinger worth $11,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Greenwood Capital Associates LLC lifted its stake in Schrodinger by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company’s stock valued at $457,000 after purchasing an additional 612 shares during the last quarter. United Advisor Group LLC lifted its stake in Schrodinger by 3.3% during the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company’s stock valued at $381,000 after purchasing an additional 634 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Schrodinger by 29.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company’s stock valued at $58,000 after purchasing an additional 680 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Schrodinger by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company’s stock valued at $610,000 after purchasing an additional 1,202 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Schrodinger during the fourth quarter valued at approximately $27,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SDGR. Barclays began coverage on shares of Schrodinger in a report on Thursday, August 14th. They set an “overweight” rating and a $25.00 price target on the stock. Morgan Stanley cut their price target on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Wall Street Zen lowered shares of Schrodinger from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. KeyCorp cut their price target on shares of Schrodinger from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, July 14th. Finally, Citigroup lowered shares of Schrodinger from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $20.00 in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Schrodinger currently has an average rating of “Moderate Buy” and an average target price of $27.83.

Schrodinger Stock Down 1.7%

Shares of SDGR opened at $18.97 on Friday. The company’s fifty day moving average is $20.43 and its 200-day moving average is $21.82. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -7.65 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company had revenue of $54.76 million for the quarter, compared to analyst estimates of $52.03 million. During the same quarter in the prior year, the business posted ($0.66) EPS. Schrodinger’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts predict that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

About Schrodinger

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.