Schrödinger, Inc. (NASDAQ:SDGR) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Schrödinger, Inc. (NASDAQ:SDGR – Get Rating) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 229,900 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Schrödinger were worth $5,743,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its stake in shares of Schrödinger by 69.2% in the first quarter. US Bancorp DE now owns 1,932 shares of the company’s stock worth $66,000 after acquiring an additional 790 shares in the last quarter. IFP Advisors Inc raised its stake in Schrödinger by 294.7% during the third quarter. IFP Advisors Inc now owns 3,750 shares of the company’s stock valued at $107,000 after buying an additional 2,800 shares in the last quarter. SG Americas Securities LLC raised its stake in Schrödinger by 19.7% during the second quarter. SG Americas Securities LLC now owns 3,993 shares of the company’s stock valued at $105,000 after buying an additional 657 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Schrödinger by 240.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,372 shares of the company’s stock worth $160,000 after buying an additional 4,499 shares during the last quarter. Finally, Capital Impact Advisors LLC acquired a new position in shares of Schrödinger during the second quarter valued at $223,000. Institutional investors and hedge funds own 68.70% of the company’s stock.

Schrödinger Stock Performance

Shares of Schrödinger stock opened at $23.47 on Friday. The firm has a market cap of $1.67 billion, a P/E ratio of -11.18 and a beta of 1.02. Schrödinger, Inc. has a twelve month low of $15.85 and a twelve month high of $37.25. The firm’s 50-day simple moving average is $23.12 and its 200-day simple moving average is $22.78.

Analyst Ratings Changes

Several brokerages have recently issued reports on SDGR. Piper Sandler boosted their price target on shares of Schrödinger from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, January 19th. The Goldman Sachs Group assumed coverage on shares of Schrödinger in a report on Monday, December 19th. They set a “neutral” rating and a $23.00 price target for the company. BMO Capital Markets cut their price objective on shares of Schrödinger from $83.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Finally, Citigroup boosted their price target on shares of Schrödinger from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Schrödinger has a consensus rating of “Moderate Buy” and an average price target of $55.40.

Insider Transactions at Schrödinger

In other news, CEO Ramy Farid sold 66,886 shares of Schrödinger stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $18.28, for a total transaction of $1,222,676.08. Following the transaction, the chief executive officer now directly owns 184,432 shares of the company’s stock, valued at $3,371,416.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.90% of the stock is owned by company insiders.

About Schrödinger

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Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.