JPMorgan Chase & Co. Boosts Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

JPMorgan Chase & Co. grew its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 3.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,702 shares of the company’s stock after purchasing an additional 4,403 shares during the period. JPMorgan Chase & Co.’s holdings in Schrödinger were worth $2,276,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Stephens Investment Management Group LLC raised its stake in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock valued at $28,565,000 after purchasing an additional 436,789 shares during the period. Barclays PLC increased its stake in shares of Schrödinger by 421.6% in the third quarter. Barclays PLC now owns 107,554 shares of the company’s stock worth $1,995,000 after buying an additional 86,933 shares during the last quarter. Millennium Management LLC increased its stake in shares of Schrödinger by 2,868.8% in the second 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 during the last quarter. State Street Corp increased its stake in shares of Schrödinger by 1.8% in the third quarter. State Street Corp now owns 2,155,620 shares of the company’s stock worth $39,987,000 after buying an additional 38,972 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of Schrödinger by 861.0% in the third quarter. Quest Partners LLC now owns 43,773 shares of the company’s stock worth $812,000 after buying an additional 39,218 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets lifted their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Price Performance

Schrödinger stock opened at $21.33 on Wednesday. The company has a market cap of $1.55 billion, a PE ratio of -9.12 and a beta of 1.59. The company has a fifty day moving average price of $20.46 and a two-hundred day moving average price of $19.99. Schrödinger, Inc. has a 12 month low of $16.67 and a 12 month high of $33.63.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). The business had revenue of $35.30 million during the quarter, compared to analyst estimates of $41.25 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.86) EPS. Equities research analysts anticipate that Schrödinger, Inc. will post -2.29 earnings per share for the current year.

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.