Schrödinger, Inc. (NASDAQ:SDGR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 81.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,346 shares of the company's stock after selling 365,504 shares during the period. Bank of America Corp DE owned 0.12% of Schrödinger worth $1,627,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC acquired a new position in Schrödinger in the 4th quarter valued at about $50,000. KBC Group NV grew its stake in shares of Schrödinger by 73.9% in the 4th quarter. KBC Group NV now owns 4,361 shares of the company's stock valued at $84,000 after purchasing an additional 1,853 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Schrödinger in the fourth quarter valued at approximately $199,000. Proficio Capital Partners LLC purchased a new stake in shares of Schrödinger during the fourth quarter worth approximately $218,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Schrödinger during the fourth quarter worth approximately $264,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Buying and Selling at Schrödinger

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 sale, the insider now owns 15,625 shares of the company's stock, valued at $392,031.25. The trade was a 51.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Schrödinger Stock Up 3.3%

Shares of Schrödinger stock traded up $0.78 during trading on Friday, reaching $24.62. The company's stock had a trading volume of 1,166,990 shares, compared to its average volume of 873,615. The business has a 50 day moving average price of $22.93 and a 200-day moving average price of $22.24. Schrödinger, Inc. has a 12-month low of $16.60 and a 12-month high of $28.47. The company has a market capitalization of $1.81 billion, a P/E ratio of -10.52 and a beta of 1.84.

Schrödinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The company had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Schrödinger's revenue for the quarter was up 62.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. Research analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. KeyCorp raised their target price on shares of Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $32.80.

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.