Prosight Management LP Buys 20,500 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Prosight Management LP boosted its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 720,500 shares of the company’s stock after purchasing an additional 20,500 shares during the quarter. Schrödinger makes up 3.8% of Prosight Management LP’s investment portfolio, making the stock its 11th largest position. Prosight Management LP owned about 0.99% of Schrödinger worth $13,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC bought a new stake in shares of Schrödinger during the 4th quarter valued at about $50,000. KBC Group NV boosted its position in shares of Schrödinger by 73.9% during the 4th quarter. KBC Group NV now owns 4,361 shares of the company’s stock valued at $84,000 after acquiring an additional 1,853 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Schrödinger during the 4th quarter valued at about $199,000. Bayesian Capital Management LP bought a new stake in Schrödinger in the 4th quarter worth approximately $199,000. Finally, Proficio Capital Partners LLC bought a new stake in Schrödinger in the 4th quarter worth approximately $218,000. Institutional investors own 79.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SDGR shares. KeyCorp boosted their price objective on shares of Schrödinger from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, April 16th. Piper Sandler lowered their price objective on shares of Schrödinger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.80.

Insider Activity

In other Schrödinger news, CFO Geoffrey Craig Porges sold 5,491 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $21.76, for a total transaction of $119,484.16. Following the transaction, the chief financial officer now directly owns 27,544 shares in the company, valued at $599,357.44. This trade represents a 16.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Karen Akinsanya sold 16,723 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $25.09, for a total value of $419,580.07. Following the transaction, the insider now owns 15,625 shares in the company, valued at $392,031.25. The trade was a 51.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.

Schrödinger Price Performance

Shares of NASDAQ:SDGR opened at $23.92 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of -10.22 and a beta of 1.84. Schrödinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47. The stock’s fifty day moving average price is $22.78 and its 200-day moving average price is $21.89.

Schrödinger (NASDAQ:SDGR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.01). The firm had revenue of $59.55 million for the quarter, compared to analysts’ expectations of $54.60 million. Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The firm’s revenue was up 62.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.86) EPS. On average, sell-side analysts anticipate that Schrödinger, Inc. will post -2.37 earnings per share for the current year.

About Schrödinger

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.