AlphaQuest LLC Cuts Position in Schrodinger, Inc. $SDGR

Key Points

• AlphaQuest LLC reduced its holdings in Schrodinger, Inc. by 39.7%, now owning 20,645 shares worth approximately $408,000 as of its latest SEC filing.
• Multiple institutional investors have altered their positions in Schrodinger, with several funds significantly increasing their stakes during the first quarter, indicating strong interest in the company.
• Brokerages have recently downgraded Schrodinger's stock ratings, with Citigroup cutting its price objective from $35.00 to $20.00, reflecting a cautious outlook among analysts.

AlphaQuest LLC decreased its holdings in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 39.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,645 shares of the company's stock after selling 13,576 shares during the quarter. AlphaQuest LLC's holdings in Schrodinger were worth $408,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. acquired a new position in shares of Schrodinger during the 1st quarter worth $19,787,000. Tejara Capital Ltd grew its stake in Schrodinger by 65.8% in the 1st quarter. Tejara Capital Ltd now owns 134,172 shares of the company's stock valued at $2,649,000 after acquiring an additional 53,265 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Schrodinger by 26.8% in the 1st quarter. Public Sector Pension Investment Board now owns 175,760 shares of the company's stock valued at $3,470,000 after acquiring an additional 37,168 shares during the last quarter. Nuveen LLC acquired a new stake in Schrodinger in the 1st quarter valued at about $2,872,000. Finally, Invesco Ltd. grew its stake in Schrodinger by 2.8% in the 1st quarter. Invesco Ltd. now owns 134,856 shares of the company's stock valued at $2,662,000 after acquiring an additional 3,734 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SDGR shares. Citigroup cut shares of Schrodinger from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $35.00 to $20.00 in a research note on Friday, August 15th. Wall Street Zen cut shares of Schrodinger from a "hold" rating to a "sell" rating in a research note on Saturday. Morgan Stanley lowered their price objective on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. KeyCorp lowered their price objective on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Finally, Barclays assumed coverage on shares of Schrodinger in a research note on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Schrodinger currently has an average rating of "Moderate Buy" and an average price target of $27.83.

Schrodinger Stock Down 1.3%

Shares of SDGR stock traded down $0.25 during trading hours on Friday, hitting $19.51. 703,990 shares of the company were exchanged, compared to its average volume of 1,412,113. The firm has a market cap of $1.44 billion, a PE ratio of -7.87 and a beta of 1.67. Schrodinger, Inc. has a 1 year low of $16.60 and a 1 year high of $28.47. The firm has a fifty day moving average of $20.53 and a 200 day moving average of $21.96.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.24. The business had revenue of $54.76 million for the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company's revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.66) EPS. Analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

Schrodinger Profile

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.