Palumbo Wealth Management LLC Invests $345,000 in Schrodinger, Inc. (NASDAQ:SDGR)

Palumbo Wealth Management LLC bought a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,493 shares of the company's stock, valued at approximately $345,000.

Several other large investors have also added to or reduced their stakes in SDGR. Point72 Hong Kong Ltd acquired a new position in shares of Schrodinger during the 4th quarter worth approximately $27,000. Paradigm Asset Management Co. LLC bought a new position in shares of Schrodinger in the fourth quarter valued at $50,000. GAMMA Investing LLC increased its holdings in Schrodinger by 118.5% during the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after buying an additional 3,313 shares during the last quarter. XTX Topco Ltd acquired a new position in Schrodinger during the fourth quarter worth $199,000. Finally, Bayesian Capital Management LP bought a new stake in Schrodinger during the fourth quarter worth $199,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Schrodinger from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. KeyCorp upped their target price on shares of Schrodinger from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $32.80.

Insider Buying and Selling at Schrodinger

In other news, insider Karen Akinsanya sold 16,723 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the completion of the sale, the insider now owns 15,625 shares in the company, valued at $392,031.25. The trade was a 51.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 8.60% of the company's stock.

Schrodinger Price Performance

Schrodinger stock traded down $0.07 during mid-day trading on Thursday, hitting $20.49. 669,365 shares of the company's stock traded hands, compared to its average volume of 906,066. The firm has a 50 day simple moving average of $23.30 and a two-hundred day simple moving average of $22.33. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -7.79 and a beta of 1.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The company had revenue of $59.55 million during the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. Schrodinger's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.86) earnings per share. On average, research analysts anticipate that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Schrodinger 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.