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

Rubric Capital Management LP boosted its stake in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 17.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,685,503 shares of the company’s stock after acquiring an additional 555,503 shares during the period. Schrödinger accounts for 1.1% of Rubric Capital Management LP’s portfolio, making the stock its 21st largest holding. Rubric Capital Management LP owned approximately 5.06% of Schrödinger worth $68,366,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in Schrödinger by 5.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,059 shares of the company’s stock worth $242,000 after acquiring an additional 622 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Schrödinger by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock valued at $538,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Schrödinger by 49.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,124 shares of the company’s stock worth $41,000 after buying an additional 703 shares in the last quarter. KBC Group NV increased its holdings in shares of Schrödinger by 45.4% in the 3rd quarter. KBC Group NV now owns 2,508 shares of the company’s stock worth $47,000 after buying an additional 783 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Schrödinger by 145.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,413 shares of the company’s stock valued at $27,000 after buying an additional 837 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Schrödinger Price Performance

Schrödinger stock opened at $21.46 on Wednesday. The firm has a 50-day moving average of $18.68 and a two-hundred day moving average 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) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Schrödinger had a negative return on equity of 35.77% and a negative net margin of 91.84%. The firm had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $41.25 million. During the same quarter in the previous year, the business earned ($0.86) earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. Equities analysts forecast that Schrödinger, Inc. will post -2.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets raised their price target on Schrödinger from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.90.

Insider Buying and Selling at Schrödinger

In other news, insider Margaret Dugan sold 1,531 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total value of $27,221.18. Following the completion of the transaction, the insider now directly owns 13,469 shares of the company’s stock, valued at approximately $239,478.82. The trade was a 10.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.60% of the company’s stock.

About Schrödinger

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.