ARK Investment Management LLC Boosts Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

ARK Investment Management LLC boosted its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,053,521 shares of the company’s stock after purchasing an additional 217,618 shares during the period. ARK Investment Management LLC owned about 4.24% of Schrödinger worth $109,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in Schrödinger in the fourth quarter worth $281,000. Raymond James & Associates lifted its position in shares of Schrödinger by 55.6% during the 4th quarter. Raymond James & Associates now owns 18,337 shares of the company’s stock valued at $656,000 after buying an additional 6,552 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Schrödinger by 8.4% during the 4th quarter. SG Americas Securities LLC now owns 5,125 shares of the company’s stock valued at $183,000 after buying an additional 397 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of Schrödinger during the 4th quarter valued at $1,469,000. Finally, Aurora Investment Managers LLC. purchased a new position in shares of Schrödinger during the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price target on Schrödinger from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Citigroup decreased their price objective on Schrödinger from $47.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Craig Hallum decreased their price objective on Schrödinger from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. TD Cowen assumed coverage on Schrödinger in a research note on Friday, January 26th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, KeyCorp decreased their target price on Schrödinger from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Insider Transactions at Schrödinger

In other news, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Robert Lorne Abel sold 1,205 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $27.55, for a total value of $33,197.75. Following the completion of the transaction, the insider now owns 9,340 shares of the company’s stock, valued at approximately $257,317. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kenneth Patrick Lorton sold 901 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $28.29, for a total value of $25,489.29. Following the transaction, the chief operating officer now directly owns 36,487 shares of the company’s stock, valued at approximately $1,032,217.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,651 shares of company stock valued at $102,395. Corporate insiders own 7.60% of the company’s stock.

Schrödinger Price Performance

Shares of SDGR stock opened at $26.63 on Thursday. Schrödinger, Inc. has a 1-year low of $20.76 and a 1-year high of $59.24. The business has a 50-day moving average of $27.52 and a 200 day moving average of $28.86. The stock has a market capitalization of $1.93 billion, a PE ratio of 42.27 and a beta of 1.57.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.12. Schrödinger had a negative return on equity of 23.58% and a net margin of 18.79%. The business had revenue of $74.10 million during the quarter, compared to analysts’ expectations of $79.12 million. During the same quarter last year, the business posted ($0.39) EPS. The business’s revenue was up 30.5% on a year-over-year basis. Analysts anticipate that Schrödinger, Inc. will post -2.65 EPS 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.