Schrödinger, Inc. (NASDAQ:SDGR) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its holdings in shares of Schrödinger, Inc. (NASDAQ:SDGR) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 2,336,468 shares of the company’s stock after selling 111,161 shares during the quarter. ARK Investment Management LLC’s holdings in Schrödinger were worth $43,341,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in shares of 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 purchasing an additional 837 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Schrödinger by 49.5% during 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 last quarter. nVerses Capital LLC acquired a new stake in Schrödinger during the second quarter worth about $66,000. Quest Partners LLC grew its stake in shares of Schrödinger by 1,005.6% in the 2nd quarter. Quest Partners LLC now owns 4,555 shares of the company’s stock valued at $88,000 after buying an additional 4,143 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Schrödinger during the 1st quarter valued at approximately $263,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity

In other Schrödinger news, insider Margaret Dugan sold 1,531 shares of Schrödinger stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.78, for a total transaction of $27,221.18. Following the completion of the sale, the insider now directly owns 13,469 shares of the company’s stock, valued at $239,478.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.60% of the company’s stock.

Analyst Upgrades and Downgrades

SDGR has been the subject of several recent analyst reports. Morgan Stanley cut their target price on Schrödinger from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 21st. KeyCorp decreased 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. Finally, BMO Capital Markets reduced their price target on shares of Schrödinger from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Schrödinger Stock Performance

Shares of SDGR opened at $18.78 on Friday. The stock has a 50-day simple moving average of $18.77 and a 200-day simple moving average of $20.55. Schrödinger, Inc. has a 1 year low of $16.67 and a 1 year high of $38.00. The stock has a market capitalization of $1.37 billion, a PE ratio of -7.01 and a beta of 1.50.

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.