Geode Capital Management LLC Increases Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Geode Capital Management LLC raised its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,319,205 shares of the company’s stock after acquiring an additional 24,114 shares during the quarter. Geode Capital Management LLC’s holdings in Schrödinger were worth $24,476,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SDGR. KBC Group NV boosted its holdings in Schrödinger by 45.4% during the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares in the last quarter. Quarry LP raised its stake in shares of 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 buying an additional 2,599 shares during the period. nVerses Capital LLC purchased a new position in Schrödinger during the second quarter valued at $66,000. Quest Partners LLC boosted its holdings in Schrödinger by 1,005.6% in the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock worth $88,000 after buying an additional 4,143 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Schrödinger during the third quarter worth approximately $102,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Trading Down 2.6 %

NASDAQ SDGR opened at $19.77 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of -8.45 and a beta of 1.56. Schrödinger, Inc. has a twelve month low of $16.67 and a twelve month high of $37.48. The stock has a fifty day simple moving average of $20.02 and a 200-day simple moving average of $19.99.

Schrödinger (NASDAQ:SDGR) last announced its earnings results 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). The company had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The company’s quarterly revenue was down 17.1% compared to the same quarter last year. During the same period last year, the business earned ($0.86) EPS. Research analysts predict that Schrödinger, Inc. will post -2.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Three investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.90.

Insider Buying and Selling

In related news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction dated 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 owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. This represents a 10.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

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.