Norges Bank Makes New $1.55 Million Investment in Schrödinger, Inc. (NASDAQ:SDGR)

Norges Bank bought a new position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,142 shares of the company's stock, valued at approximately $1,546,000. Norges Bank owned approximately 0.11% of Schrödinger as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Avanza Fonder AB purchased a new stake in shares of Schrödinger in the 4th quarter worth about $577,000. Barclays PLC lifted its holdings in shares of Schrödinger by 421.6% in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Schrödinger in the fourth quarter valued at approximately $325,000. State Street Corp increased its stake in shares of Schrödinger by 1.8% during the 3rd quarter. State Street Corp now owns 2,155,620 shares of the company's stock worth $39,987,000 after purchasing an additional 38,972 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock worth $67,718,000 after purchasing an additional 1,319,464 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

Insider Buying and Selling

In other news, insider Karen Akinsanya sold 16,723 shares of Schrödinger stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the transaction, the insider now directly owns 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the sale, the chief financial officer now directly owns 27,544 shares of the company's stock, valued at approximately $599,357.44. This trade represents a 16.62 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of brokerages have commented on SDGR. Piper Sandler lowered their target price on Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. KeyCorp increased their price objective on Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $33.00.

Schrödinger Stock Down 4.8 %

Shares of NASDAQ:SDGR traded down $1.22 during midday trading on Wednesday, reaching $24.38. The company's stock had a trading volume of 1,318,475 shares, compared to its average volume of 817,267. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -10.42 and a beta of 1.77. The business has a 50 day moving average price of $21.98 and a 200 day moving average price of $20.84. Schrödinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47.

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