Algert Global LLC Trims Stake in Schrodinger, Inc. $SDGR

Key Points

• Algert Global reduced its Schrodinger stake by 31% in the second quarter, selling 147,398 shares and retaining 328,410 shares worth approximately $5.34 million. Institutional investors and hedge funds collectively own 79.05% of SDGR.
• Analyst sentiment remains mixed, with Schrodinger receiving an average “Hold” rating and a $20.50 average price target. Morgan Stanley cut its target to $17, while UBS initiated coverage with a $19 target and a neutral rating.
• Schrodinger reported better-than-expected quarterly results, posting $58.89 million in revenue and $0.08 EPS versus estimates of $47.19 million and a $0.41 loss per share. Revenue increased 7.5% year over year, although the company remains unprofitable.

Algert Global LLC decreased its stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 31.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,410 shares of the company's stock after selling 147,398 shares during the period. Algert Global LLC owned 0.44% of Schrodinger worth $5,337,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SDGR. Portland Investment Counsel Inc. purchased a new stake in shares of Schrodinger in the second quarter valued at $162,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Schrodinger in the 2nd quarter valued at about $3,181,000. Quantbot Technologies LP acquired a new position in Schrodinger in the 2nd quarter valued at about $179,000. Ieq Capital LLC purchased a new position in Schrodinger in the 2nd quarter valued at about $1,160,000. Finally, Allworth Financial LP acquired a new stake in shares of Schrodinger during the 2nd quarter worth about $86,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SDGR. Morgan Stanley decreased their target price on shares of Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 14th. Weiss Ratings lowered Schrodinger from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. UBS Group began coverage on Schrodinger in a report on Friday, August 14th. They set a "neutral" rating and a $19.00 price objective on the stock. Finally, Wall Street Zen upgraded Schrodinger from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.50.

Schrodinger Stock Up 4.8%

Shares of NASDAQ SDGR opened at $20.41 on Friday. Schrodinger, Inc. has a 52-week low of $10.94 and a 52-week high of $23.02. The firm has a fifty day moving average of $16.81 and a 200-day moving average of $14.11. The stock has a market capitalization of $1.51 billion, a PE ratio of -27.58 and a beta of 1.63.

Schrodinger (NASDAQ:SDGR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.49. Schrodinger had a negative return on equity of 16.37% and a negative net margin of 20.98%.The business had revenue of $58.89 million for the quarter, compared to analyst estimates of $47.19 million. During the same period last year, the company posted ($0.65) EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts expect that Schrodinger, Inc. will post -1.89 EPS for the current fiscal year.

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.

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