American Century Companies Inc. Purchases New Shares in Schrodinger, Inc. $SDGR

Key Points

• American Century Companies Inc. has invested approximately $19.79 million in Schrodinger, Inc., acquiring over 1 million shares and representing 1.37% ownership in the company.
• Despite reporting a smaller-than-expected loss of ($0.59) EPS for the most recent quarter, Schrodinger's revenue increased by 15.7% year-over-year, totaling $54.76 million.
• Many institutional investors are increasing their stakes in Schrodinger, with 79.05% of the company's stock being owned by institutional investors and hedge funds.

American Century Companies Inc. bought a new stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,002,379 shares of the company's stock, valued at approximately $19,787,000. American Century Companies Inc. owned about 1.37% of Schrodinger as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Greenwood Capital Associates LLC lifted its stake in Schrodinger by 2.7% in the first quarter. Greenwood Capital Associates LLC now owns 23,139 shares of the company's stock valued at $457,000 after buying an additional 612 shares during the last quarter. United Advisor Group LLC lifted its stake in Schrodinger by 3.3% in the fourth quarter. United Advisor Group LLC now owns 19,769 shares of the company's stock valued at $381,000 after buying an additional 634 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Schrodinger by 29.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the company's stock valued at $58,000 after buying an additional 680 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Schrodinger by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,643 shares of the company's stock valued at $610,000 after buying an additional 1,202 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Schrodinger in the fourth quarter valued at $27,000. 79.05% of the stock is currently owned by institutional investors.

Schrodinger Trading Up 0.2%

NASDAQ:SDGR traded up $0.04 during mid-day trading on Thursday, reaching $19.83. 252,032 shares of the stock were exchanged, compared to its average volume of 1,156,939. The business has a fifty day moving average price of $20.58 and a 200 day moving average price of $22.03. The firm has a market capitalization of $1.46 billion, a PE ratio of -8.00 and a beta of 1.67. Schrodinger, Inc. has a 1-year low of $16.60 and a 1-year high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.24. The firm had revenue of $54.76 million for the quarter, compared to analyst estimates of $52.03 million. Schrodinger had a negative return on equity of 45.70% and a negative net margin of 76.22%.Schrodinger's revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.66) earnings per share. On average, sell-side analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

Analyst Ratings Changes

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

Schrodinger Company 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.