State of Alaska Department of Revenue Has $586,000 Stock Holdings in Schrödinger, Inc. (NASDAQ:SDGR)

State of Alaska Department of Revenue reduced its position in Schrödinger, Inc. (NASDAQ:SDGR) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,592 shares of the company’s stock after selling 851 shares during the period. State of Alaska Department of Revenue’s holdings in Schrödinger were worth $586,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SDGR. Nisa Investment Advisors LLC raised 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 valued at $27,000 after buying an additional 837 shares during the period. GAMMA Investing LLC increased its holdings in shares of Schrödinger by 49.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after acquiring an additional 703 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Schrödinger during the 2nd quarter worth approximately $66,000. Quest Partners LLC raised its stake in Schrödinger by 1,005.6% in the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after acquiring an additional 4,143 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Schrödinger during the 1st quarter valued at $263,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Schrödinger Stock Down 1.0 %

NASDAQ SDGR opened at $18.78 on Friday. The firm has a 50-day moving average price of $18.77 and a two-hundred day moving average price of $20.55. Schrödinger, Inc. has a 12-month low of $16.67 and a 12-month high of $38.00. The company has a market capitalization of $1.37 billion, a P/E ratio of -7.01 and a beta of 1.50.

Insider Activity at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the transaction, the insider now owns 13,469 shares in the company, valued at $239,478.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SDGR has been the topic of several research reports. KeyCorp decreased their price objective 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. Morgan Stanley decreased their price target on shares of Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. Finally, BMO Capital Markets cut their price objective on shares of Schrödinger from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.60.

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.