Nikko Asset Management Americas Inc. Reduces Position in Schrödinger, Inc. (NASDAQ:SDGR)

Nikko Asset Management Americas Inc. lowered its holdings in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,359,122 shares of the company's stock after selling 75,761 shares during the period. Nikko Asset Management Americas Inc. owned approximately 1.89% of Schrödinger worth $48,643,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Spire Wealth Management boosted its holdings in shares of Schrödinger by 66.7% in the third quarter. Spire Wealth Management now owns 1,000 shares of the company's stock worth $28,000 after acquiring an additional 400 shares during the period. International Assets Investment Management LLC grew its holdings in Schrödinger by 3,480.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company's stock valued at $64,000 after buying an additional 1,740 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Schrödinger during the fourth quarter valued at about $67,000. SG Americas Securities LLC lifted its holdings in shares of Schrödinger by 23.4% in the third quarter. SG Americas Securities LLC now owns 4,728 shares of the company's stock worth $134,000 after buying an additional 896 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Schrödinger by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the company's stock valued at $152,000 after acquiring an additional 1,076 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SDGR. The Goldman Sachs Group lowered their target price on shares of Schrödinger from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, March 1st. TD Cowen began coverage on Schrödinger in a research note on Friday, January 26th. They issued an "outperform" rating and a $42.00 target price on the stock. Citigroup cut their price objective on Schrödinger from $39.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. 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. Finally, KeyCorp cut 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $42.80.

Schrödinger Stock Down 0.6 %

Shares of NASDAQ:SDGR traded down $0.14 during midday trading on Friday, hitting $22.76. 497,576 shares of the stock traded hands, compared to its average volume of 853,834. Schrödinger, Inc. has a one year low of $20.76 and a one year high of $59.24. The stock has a market capitalization of $1.65 billion, a PE ratio of -12.18 and a beta of 1.58. The business's 50 day moving average is $25.29 and its two-hundred day moving average is $28.26.

Schrödinger (NASDAQ:SDGR - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.12. The firm had revenue of $74.10 million for the quarter, compared to analysts' expectations of $79.12 million. Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The business's revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.39) earnings per share. As a group, sell-side analysts forecast that Schrödinger, Inc. will post -2.7 earnings per share for the current year.

Schrödinger 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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