Lazard Asset Management LLC Has $32.69 Million Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Lazard Asset Management LLC decreased its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 1.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,210,861 shares of the company’s stock after selling 23,405 shares during the period. Lazard Asset Management LLC’s holdings in Schrödinger were worth $32,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SDGR. International Assets Investment Management LLC lifted its position in Schrödinger by 3,480.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,790 shares of the company’s stock worth $64,000 after buying an additional 1,740 shares in the last quarter. GAMMA Investing LLC acquired a new position in Schrödinger during the 4th quarter valued at about $67,000. PNC Financial Services Group Inc. lifted its position in Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares during the period. Quest Partners LLC acquired a new position in Schrödinger during the 4th quarter valued at about $153,000. Finally, SG Americas Securities LLC lifted its position in 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 purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrödinger Stock Performance

Shares of NASDAQ:SDGR traded up $0.13 during mid-day trading on Friday, reaching $22.42. The stock had a trading volume of 449,951 shares, compared to its average volume of 646,352. The firm has a 50 day simple moving average of $21.21 and a two-hundred day simple moving average of $24.66. Schrödinger, Inc. has a twelve month low of $18.21 and a twelve month high of $52.81.

Schrödinger (NASDAQ:SDGR) last posted its earnings results on Wednesday, May 1st. The company reported ($0.76) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.76). Schrödinger had a negative return on equity of 29.25% and a negative net margin of 75.94%. The business had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $41.23 million. As a group, sell-side analysts forecast that Schrödinger, Inc. will post -2.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SDGR. Leerink Partnrs upgraded shares of Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. Craig Hallum cut their target price on shares of Schrödinger from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Citigroup cut their target price on shares of Schrödinger from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. KeyCorp cut their target price on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, SVB Leerink began coverage on shares of Schrödinger in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.90.

Schrödinger 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.