Schrödinger, Inc. (NASDAQ:SDGR) Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its position in Schrödinger, Inc. (NASDAQ:SDGR) by 175.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,010 shares of the company’s stock after purchasing an additional 26,750 shares during the period. Pier 88 Investment Partners LLC’s holdings in Schrödinger were worth $812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Schrödinger by 145.3% in the second 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 during the period. GAMMA Investing LLC raised 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 valued at $41,000 after acquiring an additional 703 shares during the period. nVerses Capital LLC acquired a new position in shares of Schrödinger during the 2nd quarter valued at $66,000. PNC Financial Services Group Inc. boosted its position in Schrödinger by 186.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock worth $76,000 after purchasing an additional 1,385 shares during the period. Finally, Quest Partners LLC acquired a new stake in Schrödinger in the 4th quarter valued at $153,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on SDGR. 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. Leerink Partnrs upgraded Schrödinger to a “strong-buy” rating in a report on Tuesday, July 2nd. Leerink Partners started coverage on shares of Schrödinger in a research report on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 price objective for the company. Finally, KeyCorp reduced their target price on shares of Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schrödinger presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.44.

Schrödinger Stock Down 0.1 %

Shares of SDGR opened at $20.50 on Friday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -10.90 and a beta of 1.51. The business’s 50 day moving average is $20.82 and its two-hundred day moving average is $23.07. Schrödinger, Inc. has a 52-week low of $18.02 and a 52-week high of $38.00.

Schrödinger 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.