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

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Schrodinger in the fourth quarter worth $27,000. Paradigm Asset Management Co. LLC bought a new stake in Schrodinger in the 4th quarter worth $50,000. GAMMA Investing LLC grew its holdings in Schrodinger by 118.5% in the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock worth $121,000 after acquiring an additional 3,313 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Schrodinger in the fourth quarter valued at about $199,000. Finally, Bayesian Capital Management LP bought a new position in shares of Schrodinger during the fourth quarter valued at about $199,000. Institutional investors own 79.05% of the company's stock.

Schrodinger Stock Up 1.2%

Shares of SDGR traded up $0.25 during trading hours on Tuesday, reaching $20.60. 875,012 shares of the company traded hands, compared to its average volume of 904,835. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47. The company's fifty day moving average price is $23.49 and its two-hundred day moving average price is $22.35. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -7.83 and a beta of 1.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted 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). Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The firm had revenue of $59.55 million for the quarter, compared to the consensus estimate of $54.60 million. During the same period in the previous year, the firm posted ($0.86) earnings per share. The business's revenue was up 62.7% compared to the same quarter last year. On average, analysts expect that Schrodinger, Inc. will post -2.37 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Schrodinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. KeyCorp lifted their price objective on Schrodinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Schrodinger has an average rating of "Buy" and a consensus price target of $32.80.

Insider Activity at Schrodinger

In other Schrodinger news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the completion of the transaction, the insider now owns 15,625 shares in the company, valued at approximately $392,031.25. This represents a 51.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

About Schrodinger

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.