Northern Trust Corp Sells 17,840 Shares of Schrodinger, Inc. $SDGR

Northern Trust Corp trimmed its position in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 584,778 shares of the company’s stock after selling 17,840 shares during the period. Northern Trust Corp’s holdings in Schrodinger were worth $11,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new stake in Schrodinger in the 4th quarter worth $473,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Schrodinger by 30.3% during 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Schrodinger by 118.5% during the 1st quarter. GAMMA Investing LLC now owns 6,109 shares of the company’s stock worth $121,000 after acquiring an additional 3,313 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Schrodinger during the 4th quarter worth about $330,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Schrodinger during the 4th quarter worth about $1,939,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of recent analyst reports. Citigroup cut shares of Schrodinger from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $20.00 in a research report on Friday, August 15th. KeyCorp lowered their price objective on shares of Schrodinger from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, July 14th. Barclays assumed coverage on shares of Schrodinger in a research report on Thursday, August 14th. They issued an “overweight” rating and a $25.00 price objective for the company. Wall Street Zen cut shares of Schrodinger from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. Finally, Morgan Stanley lowered their price objective on shares of Schrodinger from $28.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Schrodinger currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

Schrodinger Price Performance

Shares of NASDAQ:SDGR opened at $18.97 on Friday. Schrodinger, Inc. has a one year low of $16.60 and a one year high of $28.47. The company has a 50 day moving average of $20.43 and a 200-day moving average of $21.82. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -7.65 and a beta of 1.79.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company had revenue of $54.76 million during the quarter, compared to analysts’ expectations of $52.03 million. During the same quarter in the previous year, the company earned ($0.66) EPS. Schrodinger’s revenue was up 15.7% on a year-over-year basis. Equities research analysts anticipate that Schrodinger, Inc. will post -2.37 earnings per share for the current 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.