Bank of New York Mellon Corp Sells 27,211 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Bank of New York Mellon Corp lessened its holdings in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,710 shares of the company's stock after selling 27,211 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Schrödinger worth $7,942,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Avanza Fonder AB bought a new position in shares of Schrödinger in the fourth quarter valued at approximately $577,000. Barclays PLC raised its position in Schrödinger by 421.6% in the 3rd quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after buying an additional 86,933 shares during the last quarter. State Street Corp lifted its stake in Schrödinger by 1.8% during the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company's stock valued at $39,987,000 after acquiring an additional 38,972 shares in the last quarter. Quest Partners LLC boosted its holdings in Schrödinger by 861.0% during the 3rd quarter. Quest Partners LLC now owns 43,773 shares of the company's stock worth $812,000 after acquiring an additional 39,218 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Schrödinger by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company's stock worth $40,644,000 after acquiring an additional 29,920 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

SDGR has been the topic of a number of recent analyst reports. KeyCorp raised their price target on shares of Schrödinger from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, January 24th. Piper Sandler cut their target price on 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schrödinger currently has an average rating of "Buy" and a consensus target price of $32.29.

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Insider Activity at Schrödinger

In other Schrödinger news, CFO Geoffrey Craig Porges sold 5,491 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now owns 27,544 shares of the company's stock, valued at $599,357.44. The trade was a 16.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.60% of the stock is currently owned by company insiders.

Schrödinger Trading Up 0.4 %

Shares of SDGR stock traded up $0.10 during trading hours on Wednesday, hitting $23.00. 293,897 shares of the company were exchanged, compared to its average volume of 744,752. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -9.84 and a beta of 1.62. The firm has a fifty day simple moving average of $22.78 and a 200 day simple moving average of $20.73. Schrödinger, Inc. has a 52-week low of $16.67 and a 52-week high of $29.15.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.20). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm had revenue of $88.32 million during the quarter, compared to analysts' expectations of $83.20 million. Sell-side analysts anticipate that Schrödinger, Inc. will post -2.37 EPS for the current 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.