Schrodinger, Inc. $SDGR Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lowered its holdings in Schrodinger, Inc. (NASDAQ:SDGR) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,872,677 shares of the company’s stock after selling 86,584 shares during the quarter. ARK Investment Management LLC’s holdings in Schrodinger were worth $37,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Rubric Capital Management LP boosted its position in Schrodinger by 4.2% during the 2nd quarter. Rubric Capital Management LP now owns 5,000,000 shares of the company’s stock worth $100,600,000 after purchasing an additional 200,000 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Schrodinger by 24.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,554,569 shares of the company’s stock worth $91,365,000 after purchasing an additional 904,619 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Schrodinger by 7.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,591,492 shares of the company’s stock worth $52,089,000 after buying an additional 174,684 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Schrodinger by 38.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,072,433 shares of the company’s stock worth $41,573,000 after buying an additional 577,899 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Schrodinger by 1.4% in the second quarter. Geode Capital Management LLC now owns 1,362,605 shares of the company’s stock valued at $27,419,000 after buying an additional 18,156 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Schrodinger Stock Performance

SDGR opened at $13.12 on Thursday. The company has a market capitalization of $966.55 million, a P/E ratio of -9.24 and a beta of 1.57. Schrodinger, Inc. has a 1-year low of $11.11 and a 1-year high of $27.63. The company has a 50-day moving average of $14.99 and a 200-day moving average of $17.68.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.57. The firm had revenue of $87.24 million for the quarter, compared to analysts’ expectations of $83.66 million. Schrodinger had a negative return on equity of 29.47% and a negative net margin of 40.37%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the business posted ($0.24) earnings per share. As a group, sell-side analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on SDGR shares. UBS Group began coverage on shares of Schrodinger in a research report on Wednesday, January 7th. They issued a “neutral” rating and a $18.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Schrodinger in a research note on Friday, January 9th. Bank of America raised shares of Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, December 15th. TD Cowen reaffirmed a “buy” rating on shares of Schrodinger in a research note on Thursday, January 8th. Finally, KeyCorp decreased their price objective on shares of Schrodinger from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.75.

Schrodinger Profile

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.