MetLife Investment Management LLC Has $708,000 Stake in Schrödinger, Inc. (NASDAQ:SDGR)

MetLife Investment Management LLC lifted its position in shares of Schrödinger, Inc. (NASDAQ:SDGR – Get Rating) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,338 shares of the company’s stock after acquiring an additional 769 shares during the quarter. MetLife Investment Management LLC’s holdings in Schrödinger were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SDGR. Woodline Partners LP raised its position in Schrödinger by 425.0% during the 2nd quarter. Woodline Partners LP now owns 571,126 shares of the company’s stock worth $15,083,000 after purchasing an additional 462,345 shares during the last quarter. JPMorgan Chase & Co. raised its position in Schrödinger by 44.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 435,064 shares of the company’s stock worth $11,490,000 after purchasing an additional 133,277 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Schrödinger by 7.6% during the 3rd quarter. Stephens Investment Management Group LLC now owns 776,532 shares of the company’s stock worth $19,398,000 after purchasing an additional 54,683 shares during the last quarter. Walleye Capital LLC raised its position in Schrödinger by 373.9% during the 2nd quarter. Walleye Capital LLC now owns 92,050 shares of the company’s stock worth $2,431,000 after purchasing an additional 72,625 shares during the last quarter. Finally, Greenwood Capital Associates LLC raised its position in Schrödinger by 9.1% during the 3rd quarter. Greenwood Capital Associates LLC now owns 18,982 shares of the company’s stock worth $474,000 after purchasing an additional 1,577 shares during the last quarter. Institutional investors and hedge funds own 68.70% of the company’s stock.

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Insider Activity at Schrödinger

In related news, CEO Ramy Farid sold 66,886 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $18.28, for a total value of $1,222,676.08. Following the completion of the sale, the chief executive officer now directly owns 184,432 shares of the company’s stock, valued at approximately $3,371,416.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on SDGR shares. Morgan Stanley lowered their target price on Schrödinger from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Friday, November 4th. The Goldman Sachs Group initiated coverage on Schrödinger in a research report on Monday, December 19th. They issued a “neutral” rating and a $23.00 price objective for the company. BMO Capital Markets lowered their price objective on Schrödinger from $83.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler lifted their price objective on Schrödinger from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, January 19th. Finally, Citigroup lifted their price objective on Schrödinger from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.40.

Schrödinger Price Performance

Shares of Schrödinger stock opened at $24.60 on Thursday. Schrödinger, Inc. has a one year low of $15.85 and a one year high of $37.25. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -11.50 and a beta of 1.00. The business has a 50-day simple moving average of $22.23 and a 200 day simple moving average of $22.94.

About Schrödinger

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Schrödinger, Inc, together with its subsidiaries, provides physics-based software 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 selling its software for drug discovery in the life sciences industry, as well as to customers in materials science industries.

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