Massachusetts Financial Services Co. MA Raises Stock Position in Schrodinger, Inc. $SDGR

Key Points

• Massachusetts Financial Services increased its stake in Schrodinger by 10.6% in Q4 to 2,291,349 shares, now owning about 3.11% of the company (~$40.97 million) per its latest 13F filing.
• Schrodinger beat quarterly estimates (EPS $0.44 vs. -$0.13; revenue $87.24M vs. $83.66M) but remains unprofitable with negative margins and analysts project a -2.37 EPS for the year.
• The stock carries a consensus rating of "Hold" with an average target of $20.50 amid mixed analyst actions, while shares trade near $11.91 and the company has a market cap of about $879M.

Massachusetts Financial Services Co. MA grew its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,291,349 shares of the company's stock after purchasing an additional 218,916 shares during the period. Massachusetts Financial Services Co. MA owned about 3.11% of Schrodinger worth $40,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Amalgamated Bank increased its stake in Schrodinger by 3.9% during the third quarter. Amalgamated Bank now owns 16,411 shares of the company's stock worth $329,000 after purchasing an additional 623 shares during the period. Stephens Inc. AR increased its position in shares of Schrodinger by 9.5% during the third quarter. Stephens Inc. AR now owns 10,894 shares of the company's stock worth $219,000 after acquiring an additional 944 shares during the period. Quarry LP increased its position in shares of Schrodinger by 73.6% during the third quarter. Quarry LP now owns 2,401 shares of the company's stock worth $48,000 after acquiring an additional 1,018 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Schrodinger by 110.4% during the third quarter. SBI Securities Co. Ltd. now owns 2,127 shares of the company's stock worth $43,000 after acquiring an additional 1,116 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its position in shares of Schrodinger by 212.4% during the third quarter. Aster Capital Management DIFC Ltd now owns 1,943 shares of the company's stock worth $39,000 after acquiring an additional 1,321 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SDGR shares. KeyCorp cut their price objective on Schrodinger from $25.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 8th. UBS Group cut their target price on shares of Schrodinger from $18.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 17th. TD Cowen restated a "buy" rating on shares of Schrodinger in a research note on Thursday, January 8th. Wall Street Zen upgraded shares of Schrodinger from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Schrodinger in a research note on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Schrodinger presently has a consensus rating of "Hold" and an average target price of $20.50.

Insider Buying and Selling

In related news, CEO Ramy Farid sold 3,661 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $12.91, for a total value of $47,263.51. Following the transaction, the chief executive officer owned 330,824 shares of the company's stock, valued at $4,270,937.84. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 15,340 shares of company stock valued at $200,605 over the last 90 days. Corporate insiders own 21.00% of the company's stock.

Schrodinger Price Performance

NASDAQ:SDGR opened at $11.91 on Wednesday. The firm has a market capitalization of $879.20 million, a PE ratio of -8.39 and a beta of 1.62. The business's fifty day moving average price is $12.04 and its 200 day moving average price is $16.15. Schrodinger, Inc. has a 12 month low of $10.94 and a 12 month high of $27.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.57. The firm had revenue of $87.24 million for the quarter, compared to analyst estimates of $83.66 million. Schrodinger had a negative return on equity of 29.47% and a negative net margin of 40.37%.Schrodinger's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. As a group, equities analysts anticipate that Schrodinger, Inc. will post -2.37 EPS for the current year.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.

Want to see what other hedge funds are holding SDGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schrodinger, Inc. (NASDAQ:SDGR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.