Wesbanco Bank Inc. Buys 34,500 Shares of Schrodinger, Inc. $SDGR

Wesbanco Bank Inc. lifted its position in Schrodinger, Inc. (NASDAQ:SDGR) by 73.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,400 shares of the company’s stock after purchasing an additional 34,500 shares during the quarter. Wesbanco Bank Inc. owned about 0.11% of Schrodinger worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Verity Asset Management Inc. grew its holdings in Schrodinger by 1.2% during the 4th quarter. Verity Asset Management Inc. now owns 65,722 shares of the company’s stock valued at $1,175,000 after buying an additional 798 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Schrodinger by 6.3% during the 4th quarter. Handelsbanken Fonder AB now owns 15,200 shares of the company’s stock worth $272,000 after acquiring an additional 900 shares in the last quarter. Quarry LP raised its holdings in shares of Schrodinger by 73.6% during the 3rd quarter. Quarry LP now owns 2,401 shares of the company’s stock worth $48,000 after acquiring an additional 1,018 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Schrodinger by 722.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,374 shares of the company’s stock valued at $25,000 after acquiring an additional 1,207 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Schrodinger by 212.4% in the third quarter. Aster Capital Management DIFC Ltd now owns 1,943 shares of the company’s stock valued at $39,000 after purchasing an additional 1,321 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Schrodinger Stock Performance

Schrodinger stock opened at $16.86 on Monday. Schrodinger, Inc. has a 12-month low of $10.94 and a 12-month high of $23.75. The firm has a 50-day moving average price of $13.67 and a 200-day moving average price of $14.14. The firm has a market capitalization of $1.24 billion, a PE ratio of -11.96 and a beta of 1.64.

Schrodinger (NASDAQ:SDGR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.25). The firm had revenue of $58.59 million during the quarter, compared to analysts’ expectations of $47.57 million. Schrodinger had a negative return on equity of 30.85% and a negative net margin of 40.61%.The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. As a group, sell-side analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Activity at Schrodinger

In other news, CEO Ramy Farid sold 43,000 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $12.33, for a total value of $530,190.00. Following the sale, the chief executive officer directly owned 330,824 shares in the company, valued at approximately $4,079,059.92. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SDGR. Morgan Stanley decreased their price target on shares of Schrodinger from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. KeyCorp reduced their target price on shares of Schrodinger from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. UBS Group decreased their target price on shares of Schrodinger from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, Wall Street Zen downgraded shares of Schrodinger from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.25.

About Schrodinger

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.