Algert Global LLC Acquires 62,010 Shares of Schrödinger, Inc. (NASDAQ:SDGR)

Algert Global LLC raised its stake in Schrödinger, Inc. (NASDAQ:SDGR) by 246.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,220 shares of the company’s stock after purchasing an additional 62,010 shares during the quarter. Algert Global LLC owned 0.12% of Schrödinger worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Rubric Capital Management LP grew its holdings in shares of Schrödinger by 213.5% in the second quarter. Rubric Capital Management LP now owns 3,130,000 shares of the company’s stock valued at $60,534,000 after acquiring an additional 2,131,724 shares in the last quarter. Millennium Management LLC grew its stake in Schrödinger by 2,868.8% in the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after purchasing an additional 471,399 shares during the period. Iron Triangle Partners LP purchased a new stake in shares of Schrödinger during the 4th quarter valued at $16,775,000. Massachusetts Financial Services Co. MA raised its stake in shares of Schrödinger by 53.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock worth $23,752,000 after purchasing an additional 427,594 shares during the period. Finally, Norges Bank purchased a new position in shares of Schrödinger in the 4th quarter worth about $8,530,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Schrödinger Price Performance

NASDAQ:SDGR opened at $17.44 on Friday. The company has a market cap of $1.27 billion, a P/E ratio of -9.28 and a beta of 1.51. Schrödinger, Inc. has a 1 year low of $17.15 and a 1 year high of $38.00. The stock’s fifty day moving average price is $20.09 and its two-hundred day moving average price is $22.02.

Schrödinger (NASDAQ:SDGR) last issued its earnings results on Wednesday, July 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.11. The business had revenue of $47.33 million during the quarter, compared to the consensus estimate of $40.19 million. Schrödinger had a negative return on equity of 38.38% and a negative net margin of 100.42%. On average, analysts expect that Schrödinger, Inc. will post -2.19 earnings per share for the current fiscal year.

Schrödinger 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.