Millennium Management LLC Has $14.69 Million Position in Schrödinger, Inc. (NASDAQ:SDGR)

Millennium Management LLC raised its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 42.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 761,653 shares of the company's stock after acquiring an additional 226,536 shares during the quarter. Millennium Management LLC owned approximately 1.05% of Schrödinger worth $14,692,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Paradigm Asset Management Co. LLC acquired a new position in Schrödinger during the 4th quarter valued at approximately $50,000. KBC Group NV raised its holdings in Schrödinger by 73.9% during the fourth quarter. KBC Group NV now owns 4,361 shares of the company's stock worth $84,000 after purchasing an additional 1,853 shares in the last quarter. XTX Topco Ltd bought a new position in Schrödinger during the fourth quarter valued at about $199,000. Bayesian Capital Management LP acquired a new position in shares of Schrödinger in the 4th quarter worth approximately $199,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Schrödinger in the 4th quarter worth $218,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Stock Up 0.5%

NASDAQ:SDGR traded up $0.11 during mid-day trading on Tuesday, reaching $21.51. 438,050 shares of the company were exchanged, compared to its average volume of 1,138,070. Schrödinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47. The stock has a market cap of $1.57 billion, a PE ratio of -9.18 and a beta of 1.84. The company has a fifty day moving average of $22.74 and a 200 day moving average of $22.15.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.01). The company had revenue of $59.55 million during 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 for the quarter was up 62.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.86) EPS. On average, equities research analysts anticipate that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Transactions at Schrödinger

In related news, CFO Geoffrey Craig Porges sold 5,491 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the completion of the sale, the chief financial officer now directly owns 27,544 shares of the company's stock, valued at $599,357.44. The trade was a 16.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Karen Akinsanya sold 16,723 shares of Schrödinger stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider now directly owns 15,625 shares of the company's stock, valued at $392,031.25. This represents a 51.70% decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Schrödinger 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.