Massachusetts Financial Services Co. MA Purchases 717,059 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Massachusetts Financial Services Co. MA lifted its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 58.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,945,182 shares of the company's stock after buying an additional 717,059 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.67% of Schrödinger worth $36,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Schrödinger in the 3rd quarter worth approximately $319,000. Quest Partners LLC boosted its holdings in shares of Schrödinger by 861.0% during the third quarter. Quest Partners LLC now owns 43,773 shares of the company's stock valued at $812,000 after acquiring an additional 39,218 shares during the period. KBC Group NV increased its holdings in shares of Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company's stock worth $47,000 after acquiring an additional 783 shares during the period. Pier 88 Investment Partners LLC lifted its position in Schrödinger by 83.6% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 77,130 shares of the company's stock valued at $1,431,000 after purchasing an additional 35,120 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company's stock valued at $40,644,000 after purchasing an additional 29,920 shares during the period. Institutional investors own 79.05% of the company's stock.

Insiders Place Their Bets

In related news, insider Margaret Dugan sold 1,531 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total value of $27,221.18. Following the transaction, the insider now directly owns 13,469 shares in the company, valued at approximately $239,478.82. This trade represents a 10.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 8.60% of the company's stock.

Schrödinger Stock Performance

Shares of SDGR stock traded up $1.47 on Monday, reaching $22.31. 740,107 shares of the company's stock traded hands, compared to its average volume of 759,997. The business's 50 day moving average price is $18.63 and its two-hundred day moving average price is $20.18. The company has a market capitalization of $1.63 billion, a P/E ratio of -9.63 and a beta of 1.50. Schrödinger, Inc. has a 12-month low of $16.67 and a 12-month high of $38.00.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.12). The firm had revenue of $35.30 million for the quarter, compared to analysts' expectations of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm's revenue for the quarter was down 17.1% on a year-over-year basis. During the same period last year, the business earned ($0.86) earnings per share. Research analysts predict that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SDGR shares. Morgan Stanley cut their price objective on shares of Schrödinger from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets increased their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.90.

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.