Schrödinger, Inc. (NASDAQ:SDGR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 9.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 141,744 shares of the company’s stock after selling 14,541 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Schrödinger were worth $2,629,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Schrödinger by 145.3% during the 2nd 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 increased 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 in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Schrödinger by 186.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Schrödinger in the 2nd quarter valued at about $66,000. Finally, Quest Partners LLC increased its stake in shares of Schrödinger by 1,005.6% in the 2nd 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 in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SDGR. Morgan Stanley cut their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. BMO Capital Markets cut their price target on Schrödinger from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Leerink Partners began coverage on Schrödinger in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 price target for the company. Finally, KeyCorp cut their price target on Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Insider Transactions at Schrödinger

In other news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the transaction, the insider now directly owns 13,469 shares in the company, valued at $239,478.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Schrödinger Trading Up 2.0 %

NASDAQ:SDGR opened at $18.74 on Wednesday. Schrödinger, Inc. has a 12 month low of $16.67 and a 12 month high of $38.00. The stock has a 50 day moving average of $19.08 and a two-hundred day moving average of $20.81. The firm has a market cap of $1.36 billion, a P/E ratio of -9.97 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.11. The business had revenue of $47.33 million for the quarter, compared to analysts’ expectations of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. On average, research analysts forecast that Schrödinger, Inc. will post -2.19 earnings per share for the current year.

Schrödinger Company 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.