Pier 88 Investment Partners LLC Grows Stake in Schrödinger, Inc. (NASDAQ:SDGR)

Pier 88 Investment Partners LLC increased its position in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 175.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,010 shares of the company’s stock after purchasing an additional 26,750 shares during the quarter. Pier 88 Investment Partners LLC owned 0.06% of Schrödinger worth $812,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Schrödinger by 22.7% during the 1st quarter. Russell Investments Group Ltd. now owns 218,564 shares of the company’s stock worth $5,901,000 after buying an additional 40,434 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Schrödinger by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,776,631 shares of the company’s stock valued at $242,603,000 after purchasing an additional 77,830 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of Schrödinger by 9.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 405,232 shares of the company’s stock valued at $14,507,000 after purchasing an additional 36,578 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Schrödinger by 186.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,127 shares of the company’s stock valued at $76,000 after purchasing an additional 1,385 shares during the last quarter. Finally, Iron Triangle Partners LP purchased a new position in shares of Schrödinger during the 4th quarter worth approximately $16,775,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their target price 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. KeyCorp decreased their price objective on Schrödinger from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Leerink Partners initiated coverage on shares of Schrödinger in a research note on Tuesday, July 2nd. They issued an “outperform” rating and a $29.00 target price for the company. Finally, Leerink Partnrs raised shares of Schrödinger to a “strong-buy” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.44.

Schrödinger Price Performance

NASDAQ SDGR opened at $20.50 on Friday. Schrödinger, Inc. has a 12 month low of $18.02 and a 12 month high of $38.00. The company has a 50-day moving average of $20.82 and a 200-day moving average of $23.07. The company has a market cap of $1.49 billion, a P/E ratio of -10.90 and a beta of 1.51.

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.