Pier 88 Investment Partners LLC Has $1.43 Million Stock Position in Schrödinger, Inc. (NASDAQ:SDGR)

Pier 88 Investment Partners LLC increased its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 83.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,130 shares of the company’s stock after acquiring an additional 35,120 shares during the quarter. Pier 88 Investment Partners LLC owned 0.11% of Schrödinger worth $1,431,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rubric Capital Management LP grew its holdings 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 buying an additional 2,131,724 shares in the last quarter. Millennium Management LLC lifted its position in shares of Schrödinger by 2,868.8% in the second quarter. Millennium Management LLC now owns 487,831 shares of the company’s stock worth $9,435,000 after purchasing an additional 471,399 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Schrödinger by 39.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,539,870 shares of the company’s stock worth $28,565,000 after purchasing an additional 436,789 shares during the period. Massachusetts Financial Services Co. MA grew its position in Schrödinger by 53.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,228,123 shares of the company’s stock valued at $23,752,000 after purchasing an additional 427,594 shares in the last quarter. Finally, Iron Triangle Partners LP lifted its position in Schrödinger by 84.2% in the 1st quarter. Iron Triangle Partners LP now owns 863,323 shares of the company’s stock worth $23,310,000 after buying an additional 394,738 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Schrödinger Trading Down 0.7 %

Shares of Schrödinger stock opened at $22.09 on Thursday. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $38.00. The firm has a fifty day simple moving average of $18.77 and a 200-day simple moving average of $20.42. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -9.44 and a beta of 1.50.

Schrödinger (NASDAQ:SDGR) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $35.30 million during the quarter, compared to analyst estimates of $41.25 million. During the same period in the prior year, the business posted ($0.86) earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, research analysts predict that Schrödinger, Inc. will post -2.19 earnings per share for the current year.

Insider Transactions at Schrödinger

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the sale, the insider now directly owns 13,469 shares of the company’s stock, valued at $239,478.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. 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. BMO Capital Markets raised their price objective on shares of Schrödinger from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.90.

Schrödinger Company 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.