Wesbanco Bank Inc. Buys 34,500 Shares of Schrodinger, Inc. $SDGR

Wesbanco Bank Inc. increased its stake in Schrodinger, Inc. (NASDAQ:SDGR) by 73.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 81,400 shares of the company’s stock after acquiring an additional 34,500 shares during the quarter. Wesbanco Bank Inc.’s holdings in Schrodinger were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SDGR. Millennium Management LLC boosted its position in Schrodinger by 1,075.8% in the 3rd quarter. Millennium Management LLC now owns 1,551,721 shares of the company’s stock valued at $31,128,000 after buying an additional 1,419,750 shares during the period. Lazard Asset Management LLC raised its stake in shares of Schrodinger by 65.3% during the third quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company’s stock valued at $47,070,000 after acquiring an additional 927,234 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Schrodinger by 428.3% in the second quarter. Bank of America Corp DE now owns 606,916 shares of the company’s stock valued at $12,211,000 after purchasing an additional 492,032 shares during the period. UBS Group AG boosted its holdings in shares of Schrodinger by 51.3% in the fourth quarter. UBS Group AG now owns 1,442,799 shares of the company’s stock valued at $25,797,000 after purchasing an additional 489,059 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Schrodinger by 12.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,717,890 shares of the company’s stock worth $66,476,000 after purchasing an additional 414,231 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. UBS Group lowered their price objective on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Wall Street Zen cut shares of Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Finally, KeyCorp cut their target price on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.25.

Insiders Place Their Bets

In related news, CEO Ramy Farid sold 43,000 shares of the firm’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $12.33, for a total transaction of $530,190.00. Following the sale, the chief executive officer owned 330,824 shares of the company’s stock, valued at $4,079,059.92. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.10% of the stock is currently owned by insiders.

Schrodinger Price Performance

Schrodinger stock opened at $16.86 on Monday. The firm has a market cap of $1.24 billion, a P/E ratio of -11.96 and a beta of 1.64. The business has a fifty day moving average of $13.67 and a two-hundred day moving average of $14.14. Schrodinger, Inc. has a twelve month low of $10.94 and a twelve month high of $23.75.

Schrodinger (NASDAQ:SDGR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.25). The company had revenue of $58.59 million during the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.82) earnings per share. Equities analysts expect that Schrodinger, Inc. will post -1.89 earnings per share for the current year.

Schrodinger Company 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.