Rubric Capital Management LP Raises Position in Schrödinger, Inc. (NASDAQ:SDGR)

Rubric Capital Management LP increased its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 17.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,685,503 shares of the company’s stock after purchasing an additional 555,503 shares during the period. Schrödinger comprises 1.1% of Rubric Capital Management LP’s holdings, making the stock its 21st largest holding. Rubric Capital Management LP owned 0.05% of Schrödinger worth $68,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SDGR. Vanguard Group Inc. grew its stake in shares of Schrödinger by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,809,024 shares of the company’s stock worth $183,844,000 after acquiring an additional 32,393 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Schrödinger by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,054 shares of the company’s stock valued at $40,644,000 after purchasing an additional 29,920 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Schrödinger by 58.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,945,182 shares of the company’s stock worth $36,083,000 after buying an additional 717,059 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake 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 buying an additional 436,789 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Schrödinger by 7.5% during the second quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock valued at $9,679,000 after buying an additional 35,036 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SDGR has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price 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. BMO Capital Markets lifted their target price on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.90.

Insider Buying and Selling 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 transaction of $27,221.18. Following the transaction, the insider now directly owns 13,469 shares of the company’s stock, valued at $239,478.82. This trade represents a 10.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Schrödinger Stock Down 3.8 %

NASDAQ:SDGR opened at $21.46 on Wednesday. The company has a 50 day moving average price of $18.68 and a 200-day moving average price of $20.17. Schrödinger, Inc. has a 1-year low of $16.67 and a 1-year high of $38.00.

Schrödinger (NASDAQ:SDGR) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $41.25 million. During the same period in the previous year, the firm posted ($0.86) EPS. The firm’s quarterly revenue was down 17.1% on a year-over-year basis. Analysts forecast that Schrödinger, Inc. will post -2.29 EPS for the current fiscal year.

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.