Northern Trust Corp Has $11.54 Million Stock Holdings in Schrodinger, Inc. $SDGR

Key Points

• Northern Trust Corp reduced its holdings in Schrodinger, Inc. by 3.0%, now owning approximately 0.80% of the company, valued at $11.54 million.
• Several institutional investors have increased their stakes in Schrodinger, with 79.05% of the stock now held by institutional investors and hedge funds.
• Wall Street analysts have issued a mixed outlook with price target revisions, resulting in an average rating of "Moderate Buy" and an average target price of $27.83 for Schrodinger shares.

Northern Trust Corp decreased its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 584,778 shares of the company's stock after selling 17,840 shares during the period. Northern Trust Corp owned 0.80% of Schrodinger worth $11,544,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP bought a new stake in shares of Schrodinger during the 4th quarter worth about $473,000. Allspring Global Investments Holdings LLC boosted its holdings in Schrodinger by 30.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company's stock valued at $3,442,000 after purchasing an additional 40,568 shares during the period. GAMMA Investing LLC boosted its holdings in Schrodinger by 118.5% in the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company's stock valued at $121,000 after purchasing an additional 3,313 shares during the period. BNP Paribas Financial Markets bought a new stake in Schrodinger in the 4th quarter valued at about $330,000. Finally, Two Sigma Investments LP acquired a new position in Schrodinger in the fourth quarter valued at about $1,939,000. Institutional investors own 79.05% of the company's stock.

Schrodinger Price Performance

Shares of SDGR traded down $1.31 during trading hours on Wednesday, hitting $18.15. 1,364,909 shares of the stock were exchanged, compared to its average volume of 1,151,687. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47. The business has a 50-day moving average of $20.31 and a 200-day moving average of $21.66. The firm has a market capitalization of $1.34 billion, a P/E ratio of -7.32 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $54.76 million during the quarter, compared to analysts' expectations of $52.03 million. During the same period in the prior year, the company posted ($0.66) earnings per share. Schrodinger's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SDGR. Citigroup downgraded shares of Schrodinger from a "buy" rating to a "neutral" rating and cut their price target for the stock from $35.00 to $20.00 in a report on Friday, August 15th. Morgan Stanley cut their price target on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. KeyCorp cut their price target on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Wall Street Zen downgraded shares of Schrodinger from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Barclays assumed coverage on shares of Schrodinger in a research report on Thursday, August 14th. They set an "overweight" rating and a $25.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $27.83.

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.