Rubric Capital Management LP Has $68.37 Million Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Rubric Capital Management LP lifted its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,685,503 shares of the company's stock after purchasing an additional 555,503 shares during the quarter. Schrödinger comprises about 1.1% of Rubric Capital Management LP's investment portfolio, making the stock its 21st largest position. Rubric Capital Management LP owned approximately 5.06% of Schrödinger worth $68,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in Schrödinger in the 3rd quarter valued at about $298,000. Algert Global LLC lifted its holdings in Schrödinger by 45.3% in the 3rd quarter. Algert Global LLC now owns 126,760 shares of the company's stock valued at $2,351,000 after purchasing an additional 39,540 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Schrödinger by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 498,513 shares of the company's stock valued at $9,247,000 after purchasing an additional 19,436 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Schrödinger by 58.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company's stock valued at $36,083,000 after purchasing an additional 717,059 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Schrödinger in the 3rd quarter valued at about $319,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Trading Up 2.6 %

Schrödinger stock traded up $0.55 during mid-day trading on Wednesday, reaching $22.01. The company's stock had a trading volume of 448,173 shares, compared to its average volume of 763,028. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -9.43 and a beta of 1.50. The business has a 50 day moving average price of $18.71 and a 200-day moving average price of $20.16. Schrödinger, Inc. has a twelve month low of $16.67 and a twelve month high of $38.00.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) 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 analyst estimates of $41.25 million. During the same period last year, the firm posted ($0.86) EPS. The business's revenue was down 17.1% compared to the same quarter last year. On average, equities analysts expect that Schrödinger, Inc. will post -2.29 EPS for the current fiscal year.

Analysts Set New Price Targets

SDGR has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Morgan Stanley dropped their target price on shares of Schrödinger from $43.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.90.

Insider Activity at Schrödinger

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

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.