Perigon Wealth Management LLC Purchases Shares of 14,636 Schrodinger, Inc. $SDGR

Key Points

• Perigon Wealth Management LLC purchased 14,636 shares of Schrodinger, Inc. (NASDAQ:SDGR), valued at approximately $294,000, during the second quarter, marking a significant investment in the company.
• Several hedge funds have adjusted their holdings in Schrodinger, with significant increases in positions from firms like Greenwood Capital Associates LLC and Farther Finance Advisors LLC.
• Analysts have mixed opinions on Schrodinger, with ratings ranging from "overweight" to "neutral" and a consensus average price target set at $26.57.

Perigon Wealth Management LLC acquired a new stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,636 shares of the company's stock, valued at approximately $294,000.

A number of other hedge funds have also recently modified their holdings of the stock. Greenwood Capital Associates LLC raised its position in Schrodinger by 2.7% during the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company's stock valued at $457,000 after acquiring an additional 612 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock worth $58,000 after acquiring an additional 680 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Schrodinger by 347.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company's stock worth $26,000 after acquiring an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Schrodinger by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,055 shares of the company's stock valued at $653,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Schrodinger by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,395 shares of the company's stock valued at $10,095,000 after purchasing an additional 1,715 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SDGR. KeyCorp dropped their price target on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Barclays began coverage on shares of Schrodinger in a research note on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price target on the stock. Morgan Stanley cut their price objective on Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Citigroup downgraded Schrodinger from a "buy" rating to a "neutral" rating and decreased their target price for the company from $35.00 to $20.00 in a research report on Friday, August 15th. Finally, Wall Street Zen raised Schrodinger from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Schrodinger currently has a consensus rating of "Moderate Buy" and an average price target of $26.57.

Schrodinger Price Performance

Shares of SDGR stock opened at $20.06 on Wednesday. The firm's 50-day moving average is $19.70 and its two-hundred day moving average is $21.43. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47. The company has a market capitalization of $1.48 billion, a PE ratio of -8.09 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The business had revenue of $54.76 million during the quarter, compared to the consensus estimate of $52.03 million. During the same quarter last year, the firm earned ($0.66) EPS. The business's revenue was up 15.7% compared to the same quarter last year. Sell-side analysts forecast that Schrodinger, Inc. will post -2.37 EPS 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.

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