Creative Planning Purchases New Shares in Schrödinger, Inc. (NASDAQ:SDGR)

Creative Planning acquired a new position in Schrödinger, Inc. (NASDAQ:SDGR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,976 shares of the company’s stock, valued at approximately $425,000.

A number of other large investors have also recently made changes to their positions in SDGR. Algert Global LLC increased its stake in Schrödinger by 246.0% in the second quarter. Algert Global LLC now owns 87,220 shares of the company’s stock worth $1,687,000 after purchasing an additional 62,010 shares during the period. Millennium Management LLC lifted its holdings in Schrödinger by 2,868.8% during the 2nd quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock valued at $9,435,000 after buying an additional 471,399 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in Schrödinger in the 2nd quarter worth about $318,000. Public Sector Pension Investment Board increased its position in shares of Schrödinger by 8.5% during the second quarter. Public Sector Pension Investment Board now owns 121,616 shares of the company’s stock worth $2,352,000 after acquiring an additional 9,497 shares during the period. Finally, Rubric Capital Management LP raised its stake in shares of Schrödinger by 213.5% during 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. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Schrödinger Stock Down 1.0 %

Schrödinger stock opened at $17.65 on Wednesday. The firm has a market capitalization of $1.28 billion, a PE ratio of -6.59 and a beta of 1.50. Schrödinger, Inc. has a 52 week low of $16.67 and a 52 week high of $38.00. The firm’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $21.42.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.74) earnings per share 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 company had revenue of $47.33 million for the quarter, compared to analyst estimates of $40.19 million. On average, research analysts expect that Schrödinger, Inc. will post -2.19 EPS 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.