State Street Corp Purchases 38,972 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

State Street Corp boosted its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,155,620 shares of the company's stock after buying an additional 38,972 shares during the period. State Street Corp owned approximately 2.96% of Schrödinger worth $39,987,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 837 shares in the last quarter. KBC Group NV lifted its stake in Schrödinger by 45.4% during the 3rd quarter. KBC Group NV now owns 2,508 shares of the company's stock valued at $47,000 after acquiring an additional 783 shares in the last quarter. Quarry LP boosted its holdings in Schrödinger by 1,150.0% during the 3rd quarter. Quarry LP now owns 2,825 shares of the company's stock worth $52,000 after acquiring an additional 2,599 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Schrödinger in the 2nd quarter worth $66,000. Finally, Quest Partners LLC raised its holdings in shares of Schrödinger by 1,005.6% in the second quarter. Quest Partners LLC now owns 4,555 shares of the company's stock valued at $88,000 after purchasing an additional 4,143 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Price Performance

Shares of Schrödinger stock traded up $0.14 on Friday, reaching $19.44. 1,066,267 shares of the company traded hands, compared to its average volume of 753,169. The company has a 50 day moving average of $19.81 and a 200 day moving average of $20.07. Schrödinger, Inc. has a 52 week low of $16.67 and a 52 week high of $38.00. The firm has a market capitalization of $1.42 billion, a PE ratio of -8.31 and a beta of 1.56.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data 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 company posted ($0.86) earnings per share. Schrödinger's revenue for the quarter was down 17.1% on a year-over-year basis. As a group, analysts anticipate that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

Insider Activity at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the sale, the insider now directly owns 13,469 shares in the company, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, BMO Capital Markets upped their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.90.

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.