Pier 88 Investment Partners LLC Buys 35,120 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Pier 88 Investment Partners LLC lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 83.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,130 shares of the company's stock after purchasing an additional 35,120 shares during the period. Pier 88 Investment Partners LLC owned 0.11% of Schrödinger worth $1,431,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Schrödinger by 145.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company's stock worth $27,000 after purchasing an additional 837 shares during the period. GAMMA Investing LLC lifted its holdings in Schrödinger by 49.5% in the second quarter. GAMMA Investing LLC now owns 2,124 shares of the company's stock worth $41,000 after buying an additional 703 shares during the period. nVerses Capital LLC purchased a new stake in Schrödinger in the second quarter worth about $66,000. Quest Partners LLC lifted its holdings in Schrödinger by 1,005.6% in the second quarter. Quest Partners LLC now owns 4,555 shares of the company's stock worth $88,000 after buying an additional 4,143 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Schrödinger by 20.5% in the third quarter. Private Advisor Group LLC now owns 12,150 shares of the company's stock worth $225,000 after buying an additional 2,065 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Stock Down 7.8 %

Shares of NASDAQ SDGR traded down $1.72 on Thursday, reaching $20.37. 1,400,115 shares of the company's stock traded hands, compared to its average volume of 758,302. Schrödinger, Inc. has a 12 month low of $16.67 and a 12 month high of $38.00. The business's 50 day simple moving average is $18.76 and its two-hundred day simple moving average is $20.42. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -8.71 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm had revenue of $35.30 million for the quarter, compared to the consensus estimate of $41.25 million. During the same period last year, the business earned ($0.86) EPS. Schrödinger's revenue was down 17.1% on a year-over-year basis. Analysts forecast that Schrödinger, Inc. will post -2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BMO Capital Markets raised their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Wednesday. Morgan Stanley lowered their price objective on shares of Schrödinger from $43.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.90.

Insider Activity

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the transaction, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company's stock.

Schrödinger 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.