Schrödinger, Inc. (NASDAQ:SDGR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,107 shares of the company’s stock after selling 885 shares during the period. The Manufacturers Life Insurance Company’s holdings in Schrödinger were worth $563,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Schrödinger Stock Down 1.0 %

SDGR opened at $17.65 on Wednesday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -6.59 and a beta of 1.50. The stock has a fifty day moving average of $19.37 and a 200-day moving average of $21.42. Schrödinger, Inc. has a 12-month low of $16.67 and a 12-month high of $38.00.

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

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.