ARK Investment Management LLC Grows Position in Schrödinger, Inc. (NASDAQ:SDGR)

ARK Investment Management LLC increased its position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 7.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,053,521 shares of the company's stock after purchasing an additional 217,618 shares during the period. ARK Investment Management LLC owned 4.24% of Schrödinger worth $109,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Schrödinger by 118.4% in the 2nd quarter. BlackRock Inc. now owns 8,438,927 shares of the company's stock valued at $421,271,000 after buying an additional 4,574,800 shares during the period. Point72 Asset Management L.P. acquired a new position in Schrödinger during the 4th quarter valued at approximately $26,567,000. FMR LLC lifted its stake in Schrödinger by 185.6% in the first quarter. FMR LLC now owns 1,362,204 shares of the company's stock valued at $35,867,000 after buying an additional 885,190 shares during the last quarter. Millennium Management LLC grew its position in shares of Schrödinger by 1,463.0% during the second quarter. Millennium Management LLC now owns 930,145 shares of the company's stock worth $24,565,000 after acquiring an additional 870,635 shares during the last quarter. Finally, State Street Corp boosted its stake in Schrödinger by 67.5% during the 2nd quarter. State Street Corp now owns 1,994,120 shares of the company's stock valued at $99,546,000 after purchasing an additional 803,310 shares during the period. 79.05% of the stock is owned by institutional investors.

Schrödinger Stock Up 1.4 %

SDGR stock traded up $0.37 during midday trading on Thursday, hitting $27.00. 566,471 shares of the company traded hands, compared to its average volume of 909,008. The business has a 50 day simple moving average of $27.54 and a 200-day simple moving average of $28.85. Schrödinger, Inc. has a twelve month low of $20.76 and a twelve month high of $59.24. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 42.86 and a beta of 1.57.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.12. The firm had revenue of $74.10 million during the quarter, compared to analyst estimates of $79.12 million. Schrödinger had a net margin of 18.79% and a negative return on equity of 23.58%. The business's revenue was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.39) EPS. Equities research analysts forecast that Schrödinger, Inc. will post -2.65 EPS for the current year.

Insiders Place Their Bets

In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of the business's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now owns 36,487 shares of the company's stock, valued at $1,032,217.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schrödinger news, COO Kenneth Patrick Lorton sold 901 shares of Schrödinger stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.29, for a total transaction of $25,489.29. Following the completion of the sale, the chief operating officer now owns 36,487 shares of the company's stock, valued at approximately $1,032,217.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Lorne Abel sold 1,205 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the sale, the insider now directly owns 9,340 shares of the company's stock, valued at $257,317. The disclosure for this sale can be found here. Insiders sold a total of 3,651 shares of company stock worth $102,395 over the last quarter. Company insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

SDGR has been the topic of several analyst reports. Bank of America lowered their target price on Schrödinger from $38.00 to $32.00 and set a "neutral" rating on the stock in a research report on Thursday, February 29th. Piper Sandler lowered their target price on shares of Schrödinger from $60.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, February 29th. KeyCorp reduced their price target on shares of Schrödinger from $38.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. Craig Hallum lowered their price objective on shares of Schrödinger from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, January 19th. Finally, The Goldman Sachs Group dropped their price objective on Schrödinger from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Schrödinger has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

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.