ADAR1 Capital Management LLC Takes Position in Schrodinger, Inc. $SDGR

ADAR1 Capital Management LLC acquired a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 101,500 shares of the company's stock, valued at approximately $1,153,000. ADAR1 Capital Management LLC owned 0.14% of Schrodinger at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP raised its stake in shares of Schrodinger by 43.8% during the first quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock worth $68,160,000 after buying an additional 1,828,502 shares during the last quarter. Millennium Management LLC boosted its stake in Schrodinger by 1,075.8% in the third quarter. Millennium Management LLC now owns 1,551,721 shares of the company's stock valued at $31,128,000 after acquiring an additional 1,419,750 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Schrodinger by 65.3% in the third quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company's stock valued at $47,070,000 after acquiring an additional 927,234 shares during the last quarter. Bank of America Corp DE grew its holdings in Schrodinger by 428.3% during the 2nd quarter. Bank of America Corp DE now owns 606,916 shares of the company's stock worth $12,211,000 after acquiring an additional 492,032 shares during the period. Finally, UBS Group AG grew its holdings in Schrodinger by 51.3% during the 4th quarter. UBS Group AG now owns 1,442,799 shares of the company's stock worth $25,797,000 after acquiring an additional 489,059 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SDGR. Morgan Stanley dropped their price objective on Schrodinger from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, May 14th. Wall Street Zen cut Schrodinger from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 9th. KeyCorp reduced their price objective on shares of Schrodinger from $25.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Schrodinger in a research note on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Schrodinger presently has an average rating of "Hold" and a consensus target price of $20.25.

Schrodinger Trading Down 1.1%

NASDAQ:SDGR opened at $15.12 on Thursday. Schrodinger, Inc. has a 1-year low of $10.94 and a 1-year high of $23.02. The firm has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $13.78. The stock has a market capitalization of $1.12 billion, a PE ratio of -10.72 and a beta of 1.62.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The company had revenue of $58.59 million during the quarter, compared to the consensus estimate of $47.57 million. Schrodinger had a negative net margin of 40.61% and a negative return on equity of 30.85%. Schrodinger's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.82) earnings per share. On average, equities analysts predict that Schrodinger, Inc. will post -1.89 earnings per share for the current fiscal year.

Schrodinger Profile

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.

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