25,147 Shares in Schrödinger, Inc. (NASDAQ:SDGR) Purchased by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC acquired a new position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,147 shares of the company's stock, valued at approximately $485,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. raised its position in Schrödinger by 60.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock worth $67,718,000 after acquiring an additional 1,319,464 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Schrödinger by 108.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock worth $47,499,000 after purchasing an additional 1,283,949 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Schrödinger by 17.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after purchasing an additional 334,131 shares in the last quarter. Barclays PLC grew its holdings in Schrödinger by 421.6% during the third quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after purchasing an additional 86,933 shares during the period. Finally, Norges Bank purchased a new stake in Schrödinger in the fourth quarter worth about $1,546,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Ratings Changes

SDGR has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. KeyCorp upped their price target on shares of Schrödinger from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. One investment 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 stock. Based on data from MarketBeat, Schrödinger has a consensus rating of "Buy" and an average target price of $32.29.

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Insiders Place Their Bets

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the firm's stock in a transaction that occurred on 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 directly owns 27,544 shares of the company's stock, valued at $599,357.44. This trade represents a 16.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company's stock.

Schrödinger Stock Performance

SDGR traded up $5.27 during trading on Friday, reaching $24.49. 4,026,826 shares of the company traded hands, compared to its average volume of 793,347. Schrödinger, Inc. has a 12-month low of $16.60 and a 12-month high of $28.47. The firm has a fifty day simple moving average of $21.98 and a 200 day simple moving average of $20.74. The company has a market cap of $1.79 billion, a P/E ratio of -10.47 and a beta of 1.77.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.20). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The company had revenue of $88.32 million for the quarter, compared to the consensus estimate of $83.20 million. As a group, sell-side analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current fiscal 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.