Jane Street Group LLC Cuts Position in Schrödinger, Inc. (NASDAQ:SDGR)

Jane Street Group LLC trimmed its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 77.3% in the third quarter, HoldingsChannel.com reports. The fund owned 96,848 shares of the company’s stock after selling 329,675 shares during the period. Jane Street Group LLC’s holdings in Schrödinger were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. increased its position in shares of Schrödinger by 5.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock valued at $242,000 after purchasing an additional 622 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Schrödinger by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock valued at $538,000 after buying an additional 700 shares during the period. KBC Group NV increased its holdings in Schrödinger by 45.4% during the third quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares during the last quarter. Ensign Peak Advisors Inc raised its position in Schrödinger by 4.1% in the second quarter. Ensign Peak Advisors Inc now owns 23,893 shares of the company’s stock worth $462,000 after acquiring an additional 950 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Schrödinger by 20.5% in the third quarter. Private Advisor Group LLC now owns 12,150 shares of the company’s stock valued at $225,000 after acquiring an additional 2,065 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price target on shares of Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.90.

Schrödinger Trading Down 0.2 %

Schrödinger stock opened at $19.73 on Thursday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -8.43 and a beta of 1.56. The firm has a 50 day simple moving average of $19.93 and a 200 day simple moving average of $20.00. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $38.00.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). Schrödinger had a negative net margin of 91.84% and a negative return on equity of 35.77%. The company had revenue of $35.30 million for the quarter, compared to the consensus estimate of $41.25 million. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. The business’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, equities research analysts forecast that Schrödinger, Inc. will post -2.29 EPS for the current year.

Insider Transactions at Schrödinger

In related news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the sale, the insider now owns 13,469 shares in the company, valued at approximately $239,478.82. This trade represents a 10.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

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.