Schrödinger, Inc. (NASDAQ:SDGR) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,380 shares of the company's stock after selling 21,983 shares during the quarter. Wells Fargo & Company MN owned approximately 0.05% of Schrödinger worth $721,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SDGR. Redwood Wealth Management Group LLC lifted its position in shares of Schrödinger by 8.4% during the 4th 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 last quarter. GAMMA Investing LLC lifted its stake in Schrödinger by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 2,796 shares of the company's stock valued at $54,000 after buying an additional 1,305 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Schrödinger by 1.2% in the fourth quarter. Swiss National Bank now owns 125,100 shares of the company's stock valued at $2,413,000 after acquiring an additional 1,500 shares during the period. Sei Investments Co. increased its holdings in shares of Schrödinger by 9.5% in the 4th quarter. Sei Investments Co. now owns 20,304 shares of the company's stock valued at $392,000 after acquiring an additional 1,755 shares during the period. Finally, KBC Group NV raised its position in Schrödinger by 73.9% in the 4th quarter. KBC Group NV now owns 4,361 shares of the company's stock valued at $84,000 after purchasing an additional 1,853 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insider Activity at Schrödinger

In other Schrödinger news, CFO Geoffrey Craig Porges sold 5,491 shares of the company's stock in a transaction on 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 owns 27,544 shares of the company's stock, valued at approximately $599,357.44. This represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen Akinsanya sold 16,723 shares of the business's 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 completion of the sale, the insider now owns 15,625 shares in the company, valued at $392,031.25. This represents a 51.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.60% of the company's stock.

Schrödinger Stock Performance

NASDAQ:SDGR traded up $0.17 during mid-day trading on Wednesday, reaching $23.73. The stock had a trading volume of 1,023,556 shares, compared to its average volume of 833,516. The business has a 50 day simple moving average of $22.52 and a 200 day simple moving average of $21.69. Schrödinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -10.14 and a beta of 1.84.

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). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. During the same period last year, the business posted ($0.86) EPS. The firm's quarterly revenue was up 62.7% compared to the same quarter last year. As a group, sell-side analysts expect that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SDGR shares. Piper Sandler dropped their price objective on shares of Schrödinger from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. KeyCorp upped their price objective on Schrödinger from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. One 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $32.80.

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.