Schrödinger, Inc. (NASDAQ:SDGR) Shares Acquired by Millennium Management LLC

Millennium Management LLC raised its position in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761,653 shares of the company's stock after purchasing an additional 226,536 shares during the period. Millennium Management LLC owned approximately 1.05% of Schrödinger worth $14,692,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Schrödinger by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock valued at $610,000 after buying an additional 1,202 shares during the period. Lazard Asset Management LLC increased its stake in shares of Schrödinger by 3.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company's stock valued at $32,810,000 after buying an additional 58,541 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Schrödinger by 7.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 25,643 shares of the company's stock valued at $495,000 after buying an additional 1,750 shares during the period. Deutsche Bank AG increased its stake in shares of Schrödinger by 8.2% in the fourth quarter. Deutsche Bank AG now owns 233,026 shares of the company's stock valued at $4,495,000 after buying an additional 17,700 shares during the period. Finally, Centiva Capital LP acquired a new stake in Schrödinger in the fourth quarter valued at $353,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Schrödinger news, insider Karen Akinsanya sold 16,723 shares of the firm's stock in a transaction that occurred 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 owns 15,625 shares of the company's stock, valued at $392,031.25. This trade represents a 51.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total value of $119,484.16. Following the completion of the transaction, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. This trade represents a 16.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SDGR. Piper Sandler decreased their price target on Schrödinger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. KeyCorp increased their price target on Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.80.

Schrödinger Stock Down 0.8%

Shares of NASDAQ SDGR traded down $0.17 during midday trading on Wednesday, reaching $21.33. 78,887 shares of the company's stock traded hands, compared to its average volume of 862,520. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -9.16 and a beta of 1.84. The stock's 50 day simple moving average is $22.73 and its 200-day simple moving average is $22.15. Schrödinger, Inc. has a one year low of $16.60 and a one year 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. 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 prior year, the firm earned ($0.86) earnings per share. The company's revenue for the quarter was up 62.7% on a year-over-year basis. Equities analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

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.