Pier 88 Investment Partners LLC Acquires 40,880 Shares of Schrodinger, Inc. $SDGR

Pier 88 Investment Partners LLC grew its holdings in shares of Schrodinger, Inc. (NASDAQ:SDGR) by 307.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,190 shares of the company’s stock after purchasing an additional 40,880 shares during the quarter. Pier 88 Investment Partners LLC owned approximately 0.07% of Schrodinger worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in Schrodinger by 347.4% in the second quarter. Farther Finance Advisors LLC now owns 1,284 shares of the company’s stock worth $26,000 after acquiring an additional 997 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Schrodinger in the 2nd quarter worth approximately $30,000. State of Wyoming purchased a new position in Schrodinger in the second quarter valued at approximately $39,000. Canada Pension Plan Investment Board bought a new position in Schrodinger during the second quarter valued at $143,000. Finally, Stephens Inc. AR purchased a new stake in Schrodinger in the second quarter worth $200,000. Institutional investors own 79.05% of the company’s stock.

Schrodinger Stock Performance

NASDAQ:SDGR opened at $15.53 on Tuesday. Schrodinger, Inc. has a 52-week low of $15.52 and a 52-week high of $28.47. The stock has a fifty day moving average of $17.67 and a 200 day moving average of $19.18. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.44 and a beta of 1.54.

Schrodinger (NASDAQ:SDGR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.27. Schrodinger had a negative return on equity of 48.24% and a negative net margin of 68.49%.The firm had revenue of $54.32 million during the quarter, compared to the consensus estimate of $50.51 million. During the same quarter last year, the company posted ($0.87) EPS. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SDGR has been the subject of several research reports. Bank of America upgraded Schrodinger from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Monday, December 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Schrodinger in a research report on Friday, January 9th. The Goldman Sachs Group began coverage on shares of Schrodinger in a report on Monday, September 29th. They issued a “neutral” rating and a $19.00 price objective for the company. TD Cowen restated a “buy” rating on shares of Schrodinger in a research report on Thursday, January 8th. Finally, Wall Street Zen cut Schrodinger from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Schrodinger presently has a consensus rating of “Hold” and an average target price of $24.33.

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.