Sumitomo Mitsui Trust Group Inc. Increases Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,191,054 shares of the company's stock after acquiring an additional 29,920 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 3.01% of Schrödinger worth $40,644,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company's stock valued at $41,000 after purchasing an additional 703 shares during the period. nVerses Capital LLC bought a new stake in shares of Schrödinger during the 2nd quarter valued at about $66,000. Quest Partners LLC grew its stake in Schrödinger by 1,005.6% during the second quarter. Quest Partners LLC now owns 4,555 shares of the company's stock worth $88,000 after purchasing an additional 4,143 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Schrödinger by 20.5% in the third quarter. Private Advisor Group LLC now owns 12,150 shares of the company's stock valued at $225,000 after buying an additional 2,065 shares during the period. Institutional investors own 79.05% of the company's stock.

Schrödinger Stock Performance

Shares of Schrödinger stock traded down $1.83 on Friday, hitting $18.54. The company had a trading volume of 1,221,118 shares, compared to its average volume of 760,383. Schrödinger, Inc. has a 1 year low of $16.67 and a 1 year high of $38.00. The stock has a 50 day moving average of $18.72 and a 200-day moving average of $20.38. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -7.92 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its 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 return on equity of 35.77% and a negative net margin of 91.84%. The firm had revenue of $35.30 million during the quarter, compared to the consensus estimate of $41.25 million. During the same quarter in the previous year, the company earned ($0.86) EPS. The business's revenue was down 17.1% compared to the same quarter last year. Equities analysts anticipate that Schrödinger, Inc. will post -2.19 earnings per share for the current year.

Insider Activity

In related news, insider Margaret Dugan sold 1,531 shares of the firm'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 completion of the sale, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This trade represents a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted 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. Morgan Stanley dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.90.

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.