Massachusetts Financial Services Co. MA Sells 186,228 Shares of Schrodinger, Inc. (NASDAQ:SDGR)

Massachusetts Financial Services Co. MA cut its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,093,085 shares of the company's stock after selling 186,228 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.87% of Schrodinger worth $41,317,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in shares of Schrodinger in the 4th quarter worth $27,000. GAMMA Investing LLC grew its holdings in shares of 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. Bayesian Capital Management LP acquired a new position in shares of Schrodinger in the 4th quarter worth $199,000. XTX Topco Ltd acquired a new position in shares of Schrodinger in the 4th quarter worth $199,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Schrodinger in the 4th quarter worth $218,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SDGR has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Schrodinger in a research report on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 target price for the company. KeyCorp decreased their target price on Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday.

Schrodinger Price Performance

SDGR traded down $0.20 during trading on Friday, reaching $21.45. 962,275 shares of the stock traded hands, compared to its average volume of 926,705. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The stock's 50-day simple moving average is $21.99 and its two-hundred day simple moving average is $22.40.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share (EPS) 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 analyst estimates of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. Schrodinger's revenue for the quarter was up 62.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.86) EPS. Analysts forecast that Schrodinger, Inc. will post -2.37 EPS for the current fiscal 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.