10,942 Shares in Schrodinger, Inc. $SDGR Purchased by Corton Capital Inc.

Corton Capital Inc. purchased a new position in Schrodinger, Inc. (NASDAQ:SDGR) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 10,942 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors also recently modified their holdings of SDGR. Allspring Global Investments Holdings LLC increased its stake in shares of Schrodinger by 30.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company’s stock worth $3,442,000 after acquiring an additional 40,568 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Schrodinger by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 276,715 shares of the company’s stock worth $5,462,000 after acquiring an additional 6,266 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Schrodinger by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 210,634 shares of the company’s stock worth $4,158,000 after acquiring an additional 24,880 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Schrodinger by 22.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,969,941 shares of the company’s stock worth $38,887,000 after acquiring an additional 362,285 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Schrodinger in the 1st quarter worth about $4,027,000. 79.05% of the stock is currently owned by institutional investors.

Schrodinger Stock Performance

NASDAQ:SDGR opened at $20.55 on Tuesday. The firm has a 50-day simple moving average of $20.02 and a two-hundred day simple moving average of $21.35. The firm has a market cap of $1.51 billion, a P/E ratio of -8.29 and a beta of 1.77. Schrodinger, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $28.47.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. The firm had revenue of $54.76 million for the quarter, compared to the consensus estimate of $52.03 million. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.66) EPS. On average, equities research analysts predict that Schrodinger, Inc. will post -2.37 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SDGR. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research note on Tuesday, October 14th. Barclays initiated coverage on shares of Schrodinger in a research note on Thursday, August 14th. They set an “overweight” rating and a $25.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Schrodinger in a research note on Monday, September 29th. They set a “neutral” rating and a $19.00 price objective for the company. Wall Street Zen upgraded shares of Schrodinger from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Citigroup lowered shares of Schrodinger from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.29.

Insider Activity

In other news, insider Margaret Dugan sold 1,395 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $21.07, for a total transaction of $29,392.65. Following the sale, the insider owned 24,574 shares of the company’s stock, valued at $517,774.18. This trade represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.00% of the stock is currently owned by insiders.

Schrodinger 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.