Schrodinger, Inc. $SDGR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Schrodinger, Inc. by 1.0%, now holding 6,543,845 shares valued at approximately $129 million.
• Several hedge funds have increased their positions in Schrodinger, with ARK Investment Management boosting its stake by 3.9% and Stephens Investment Management Group by 22.5% during the 1st quarter.
• Analyst ratings for Schrodinger vary, with KeyCorp lowering its price target from $32 to $30, while others have significantly decreased their forecasts, reflecting mixed sentiment towards the company's stock performance.

Vanguard Group Inc. cut its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,543,845 shares of the company's stock after selling 68,545 shares during the quarter. Vanguard Group Inc. owned 8.96% of Schrodinger worth $129,176,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. ARK Investment Management LLC increased its position in shares of Schrodinger by 3.9% during the 1st quarter. ARK Investment Management LLC now owns 2,294,519 shares of the company's stock valued at $45,294,000 after purchasing an additional 85,761 shares during the period. Stephens Investment Management Group LLC increased its position in shares of Schrodinger by 22.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company's stock valued at $38,887,000 after purchasing an additional 362,285 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Schrodinger by 3.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,700,909 shares of the company's stock worth $32,810,000 after acquiring an additional 58,541 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Schrodinger by 42.3% during the 4th quarter. Millennium Management LLC now owns 761,653 shares of the company's stock worth $14,692,000 after acquiring an additional 226,536 shares in the last quarter. Finally, Prosight Management LP boosted its stake in shares of Schrodinger by 2.9% during the 4th quarter. Prosight Management LP now owns 720,500 shares of the company's stock worth $13,898,000 after acquiring an additional 20,500 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SDGR. KeyCorp reduced their price objective on Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, July 14th. Citigroup lowered Schrodinger from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $20.00 in a research note on Friday, August 15th. Morgan Stanley reduced 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. Finally, Barclays began coverage on Schrodinger in a research note on Thursday, August 14th. They set an "overweight" rating and a $25.00 price objective for the company. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Schrodinger currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.83.

Schrodinger Stock Up 1.1%

Shares of Schrodinger stock opened at $19.58 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of -7.90 and a beta of 1.67. The business has a fifty day simple moving average of $20.68 and a 200-day simple moving average of $22.19. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47.

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

Want to see what other hedge funds are holding SDGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schrodinger, Inc. (NASDAQ:SDGR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.