ARK Investment Management LLC lowered its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,336,468 shares of the company's stock after selling 111,161 shares during the quarter. ARK Investment Management LLC owned 3.21% of Schrödinger worth $43,341,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of SDGR. Rubric Capital Management LP lifted its position in shares of Schrödinger by 213.5% during the 2nd quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company's stock worth $60,534,000 after buying an additional 2,131,724 shares in the last quarter. Millennium Management LLC lifted its position in shares of Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company's stock worth $9,435,000 after buying an additional 471,399 shares in the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Schrödinger by 39.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company's stock worth $28,565,000 after buying an additional 436,789 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Schrödinger by 53.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company's stock worth $23,752,000 after buying an additional 427,594 shares in the last quarter. Finally, Iron Triangle Partners LP lifted its position in shares of Schrödinger by 84.2% during the 1st quarter. Iron Triangle Partners LP now owns 863,323 shares of the company's stock worth $23,310,000 after buying an additional 394,738 shares in the last quarter. Institutional investors own 79.05% of the company's stock.
Schrödinger Stock Down 0.2 %
Shares of SDGR traded down $0.03 during mid-day trading on Friday, reaching $18.75. 585,771 shares of the stock traded hands, compared to its average volume of 740,065. The firm has a fifty day moving average price of $18.77 and a 200 day moving average price of $20.55. Schrödinger, Inc. has a 1 year low of $16.67 and a 1 year high of $38.00.
Insider Buying and Selling
In related news, insider Margaret Dugan sold 1,531 shares of the company'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 completion of the transaction, the insider now directly owns 13,469 shares in the company, valued at approximately $239,478.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. KeyCorp lowered their price target on shares of Schrödinger from $30.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, July 11th. Morgan Stanley lowered their price target on shares of Schrödinger from $43.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 21st. Finally, BMO Capital Markets lowered their price target on shares of Schrödinger from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Three research 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 stock. According to data from MarketBeat, Schrödinger has a consensus rating of "Moderate Buy" and an average price target of $32.60.
Get Our Latest Stock Analysis on SDGR
Schrödinger Company Profile
(
Free Report)
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.
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