Deerfield Management Company L.P. Series C Buys Shares of 16,428 Schrödinger, Inc. (NASDAQ:SDGR)

Deerfield Management Company L.P. Series C purchased a new position in shares of Schrödinger, Inc. (NASDAQ:SDGR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,428 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in Schrödinger by 145.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock worth $27,000 after acquiring an additional 837 shares during the period. GAMMA Investing LLC lifted its position in shares of Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after purchasing an additional 703 shares during the period. nVerses Capital LLC bought a new position in shares of Schrödinger during the second quarter valued at approximately $66,000. PNC Financial Services Group Inc. increased its holdings in Schrödinger by 186.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after buying an additional 1,385 shares during the period. Finally, Quest Partners LLC raised its stake in Schrödinger by 1,005.6% in the second quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock worth $88,000 after buying an additional 4,143 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Stock Down 1.0 %

Shares of Schrödinger stock opened at $18.74 on Friday. The company has a 50 day moving average price of $20.36 and a 200 day moving average price of $22.22. The firm has a market capitalization of $1.36 billion, a P/E ratio of -9.97 and a beta of 1.51. Schrödinger, Inc. has a 52 week low of $18.02 and a 52 week high of $38.00.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $47.33 million for the quarter, compared to analyst estimates of $40.19 million. As a group, research analysts anticipate that Schrödinger, Inc. will post -2.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley cut their price target on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 21st. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Leerink Partners assumed coverage on shares of Schrödinger in a report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 target price for the company. Finally, KeyCorp lowered their price target on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.44.

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.