Wells Fargo & Company MN Decreases Stock Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

Wells Fargo & Company MN lowered its position in Schrödinger, Inc. (NASDAQ:SDGR - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,380 shares of the company's stock after selling 21,983 shares during the period. Wells Fargo & Company MN owned about 0.05% of Schrödinger worth $721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. ExodusPoint Capital Management LP acquired a new position in Schrödinger during the fourth quarter worth about $280,000. Massachusetts Financial Services Co. MA increased its stake in Schrödinger by 17.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,279,313 shares of the company's stock valued at $43,968,000 after purchasing an additional 334,131 shares in the last quarter. Franklin Resources Inc. increased its stake in Schrödinger by 13.7% in the 4th quarter. Franklin Resources Inc. now owns 20,051 shares of the company's stock valued at $387,000 after purchasing an additional 2,412 shares in the last quarter. Norges Bank purchased a new stake in Schrödinger during the fourth quarter worth $1,546,000. Finally, NEOS Investment Management LLC boosted its position in Schrödinger by 23.1% during the fourth quarter. NEOS Investment Management LLC now owns 34,788 shares of the company's stock worth $671,000 after purchasing an additional 6,517 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insiders Place Their Bets

In other news, CFO Geoffrey Craig Porges sold 5,491 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $21.76, for a total transaction of $119,484.16. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karen Akinsanya sold 16,723 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were 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 of the company's stock, valued at approximately $392,031.25. The trade was a 51.70 % 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.

Wall Street Analysts Forecast Growth

SDGR has been the subject of several research reports. KeyCorp lifted their price target on Schrödinger from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Piper Sandler reduced 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 analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $32.80.

Schrödinger Stock Up 1.6 %

Shares of SDGR traded up $0.41 during trading hours on Friday, reaching $25.29. 713,305 shares of the company traded hands, compared to its average volume of 827,812. The stock has a market capitalization of $1.85 billion, a PE ratio of -10.81 and a beta of 1.84. The stock has a fifty day simple moving average of $22.38 and a 200 day simple moving average of $21.58. Schrödinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

Schrödinger (NASDAQ:SDGR - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.20). The firm had revenue of $88.32 million for the quarter, compared to analyst estimates of $83.20 million. Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. Research analysts predict that Schrödinger, Inc. will post -2.37 EPS for the current fiscal year.

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.