Bank of America Corp DE Sells 365,504 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Bank of America Corp DE trimmed its stake in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 81.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,346 shares of the company's stock after selling 365,504 shares during the quarter. Bank of America Corp DE owned approximately 0.12% of Schrödinger worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Schrödinger by 60.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,510,518 shares of the company's stock valued at $67,718,000 after buying an additional 1,319,464 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Schrödinger by 108.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,464,911 shares of the company's stock valued at $47,499,000 after buying an additional 1,283,949 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Schrödinger by 17.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after buying an additional 334,131 shares in the last quarter. Natixis purchased a new stake in shares of Schrödinger during the 4th quarter valued at approximately $1,750,000. Finally, Barclays PLC lifted its stake in shares of Schrödinger by 421.6% during the 3rd quarter. Barclays PLC now owns 107,554 shares of the company's stock valued at $1,995,000 after buying an additional 86,933 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrödinger Stock Performance

Schrödinger stock traded up $0.78 during midday trading on Friday, reaching $24.62. 1,167,173 shares of the stock were exchanged, compared to its average volume of 876,240. The company's fifty day moving average is $23.05 and its 200-day moving average is $22.32. The firm has a market cap of $1.81 billion, a PE ratio of -10.52 and a beta of 1.63. Schrödinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47.

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

Insider Transactions at Schrödinger

In related news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $25.09, for a total transaction of $419,580.07. Following the transaction, the insider now owns 15,625 shares of the company's stock, valued at approximately $392,031.25. This trade represents a 51.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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.