Bayforest Capital Ltd Acquires Shares of 1,469 Schrodinger, Inc. $SDGR

Bayforest Capital Ltd acquired a new stake in Schrodinger, Inc. (NASDAQ:SDGR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,469 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SDGR. GAMMA Investing LLC increased its holdings in Schrodinger by 118.5% in the first quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock valued at $121,000 after buying an additional 3,313 shares in the last quarter. Palumbo Wealth Management LLC purchased a new position in Schrodinger in the first quarter valued at $345,000. Allspring Global Investments Holdings LLC increased its holdings in Schrodinger by 30.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 174,371 shares of the company’s stock valued at $3,442,000 after buying an additional 40,568 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Schrodinger by 2.3% in the first quarter. Principal Financial Group Inc. now owns 276,715 shares of the company’s stock valued at $5,462,000 after buying an additional 6,266 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Schrodinger by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 210,634 shares of the company’s stock valued at $4,158,000 after buying an additional 24,880 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SDGR. Barclays began coverage on shares of Schrodinger in a report on Thursday, August 14th. They issued an “overweight” rating and a $25.00 price objective for the company. Wall Street Zen lowered shares of Schrodinger from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Schrodinger in a research report on Tuesday, October 14th. Citigroup lowered shares of Schrodinger from a “buy” rating to a “neutral” rating and dropped their target price for the company from $35.00 to $20.00 in a research report on Friday, August 15th. Finally, Morgan Stanley dropped their target price on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.29.

Insiders Place Their Bets

In related news, insider Margaret Dugan sold 1,395 shares of the business’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 transaction, the insider directly owned 24,574 shares in the company, valued at approximately $517,774.18. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 21.00% of the company’s stock.

Schrodinger Trading Down 4.9%

SDGR opened at $19.31 on Friday. The firm has a market capitalization of $1.42 billion, a PE ratio of -7.79 and a beta of 1.74. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The firm’s 50-day moving average price is $19.60 and its 200 day moving average price is $21.34.

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

Schrodinger 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.