GAMMA Investing LLC Acquires 117,796 Shares of Schrodinger, Inc. (NASDAQ:SDGR)

GAMMA Investing LLC boosted its stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 4,213.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,592 shares of the company's stock after purchasing an additional 117,796 shares during the quarter. GAMMA Investing LLC owned about 0.17% of Schrodinger worth $2,380,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in Schrodinger in the fourth quarter valued at about $27,000. Paradigm Asset Management Co. LLC bought a new position in shares of Schrodinger during the 4th quarter valued at about $50,000. XTX Topco Ltd acquired a new position in shares of Schrodinger in the 4th quarter valued at approximately $199,000. Bayesian Capital Management LP acquired a new position in shares of Schrodinger in the 4th quarter valued at approximately $199,000. Finally, Proficio Capital Partners LLC bought a new stake in Schrodinger during the 4th quarter worth approximately $218,000. Institutional investors and hedge funds own 79.05% of the company's stock.

Insider Activity

In related news, insider Karen Akinsanya sold 16,723 shares of the firm's stock in a transaction on Monday, April 14th. The shares were 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 directly owns 15,625 shares of the company's stock, valued at approximately $392,031.25. This trade represents a 51.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SDGR. Piper Sandler lowered 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 stock an "overweight" rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Schrodinger has an average rating of "Buy" and a consensus price target of $32.80.

Schrodinger Price Performance

NASDAQ:SDGR traded down $0.32 during trading hours on Tuesday, reaching $20.88. 1,275,415 shares of the stock were exchanged, compared to its average volume of 902,151. The stock has a market cap of $1.53 billion, a PE ratio of -7.94 and a beta of 1.63. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The firm has a 50 day moving average of $23.73 and a 200 day moving average of $22.39.

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

Schrodinger 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.