Stanley Laman Group Ltd. Cuts Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Stanley Laman Group Ltd. lessened its holdings in Schrödinger, Inc. (NASDAQ:SDGR) by 14.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 197,668 shares of the company’s stock after selling 33,556 shares during the period. Stanley Laman Group Ltd. owned 0.27% of Schrödinger worth $3,667,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Schrödinger during the third quarter valued at about $313,000. Creative Planning purchased a new position in shares of Schrödinger during the second quarter valued at about $425,000. Algert Global LLC grew its position in shares of Schrödinger by 246.0% during the second quarter. Algert Global LLC now owns 87,220 shares of the company’s stock valued at $1,687,000 after purchasing an additional 62,010 shares in the last quarter. Millennium Management LLC grew its position in shares of Schrödinger by 2,868.8% during the second quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after purchasing an additional 471,399 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Schrödinger during the second quarter valued at about $318,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SDGR. Leerink Partners began coverage on Schrödinger in a research report on Tuesday, July 2nd. They set an “outperform” rating and a $29.00 price objective for the company. BMO Capital Markets cut their price objective on Schrödinger from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a research report on Tuesday, July 2nd. Morgan Stanley cut their price objective on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 21st. Finally, KeyCorp dropped their price target on Schrödinger from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Insider Activity

In other news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Schrödinger Price Performance

Shares of NASDAQ SDGR opened at $18.68 on Wednesday. The company has a market cap of $1.36 billion, a P/E ratio of -6.97 and a beta of 1.50. Schrödinger, Inc. has a 1 year low of $16.67 and a 1 year high of $38.00. The firm has a 50-day simple moving average of $19.29 and a two-hundred day simple moving average of $21.20.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.11. Schrödinger had a negative net margin of 100.42% and a negative return on equity of 38.38%. The firm had revenue of $47.33 million during the quarter, compared to the consensus estimate of $40.19 million. As a group, equities research analysts expect that Schrödinger, Inc. will post -2.19 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.