Schrödinger, Inc. (NASDAQ:SDGR) Shares Acquired by Prosight Management LP

Prosight Management LP grew its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 720,500 shares of the company's stock after acquiring an additional 20,500 shares during the period. Schrödinger comprises approximately 3.8% of Prosight Management LP's investment portfolio, making the stock its 11th biggest holding. Prosight Management LP owned approximately 0.99% of Schrödinger worth $13,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC lifted its holdings in Schrödinger by 8.4% during the fourth quarter. Redwood Wealth Management Group LLC now owns 14,620 shares of the company's stock worth $283,000 after buying an additional 1,132 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Schrödinger by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock worth $610,000 after buying an additional 1,202 shares during the period. Swiss National Bank lifted its holdings in Schrödinger by 1.2% during the fourth quarter. Swiss National Bank now owns 125,100 shares of the company's stock worth $2,413,000 after buying an additional 1,500 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Schrödinger by 7.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 25,643 shares of the company's stock worth $495,000 after buying an additional 1,750 shares during the period. Finally, Sei Investments Co. grew its holdings in Schrödinger by 9.5% in the fourth quarter. Sei Investments Co. now owns 20,304 shares of the company's stock worth $392,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors own 79.05% of the company's stock.

Schrödinger Stock Up 0.9%

Shares of SDGR traded up $0.22 during trading hours on Friday, reaching $23.58. 911,374 shares of the company traded hands, compared to its average volume of 848,813. The stock has a market capitalization of $1.72 billion, a P/E ratio of -10.08 and a beta of 1.84. Schrödinger, Inc. has a 12-month low of $16.60 and a 12-month high of $28.47. The business has a fifty day moving average price of $22.89 and a 200-day moving average price of $21.99.

Schrödinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). The company had revenue of $59.55 million for the quarter, compared to analysts' expectations of $54.60 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. Schrödinger's quarterly revenue was up 62.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.86) earnings per share. As a group, research analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

Insider Activity

In other Schrödinger news, insider Karen Akinsanya sold 16,723 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $25.09, for a total transaction of $419,580.07. Following the sale, the insider now directly owns 15,625 shares of the company's stock, valued at approximately $392,031.25. This trade represents a 51.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $21.76, for a total value of $119,484.16. Following the sale, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. This represents a 16.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Piper Sandler cut their price target on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $32.80.

About Schrödinger

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.