American Century Companies Inc. Purchases Shares of 1,002,379 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. purchased a new position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,002,379 shares of the company's stock, valued at approximately $19,787,000. American Century Companies Inc. owned 1.37% of Schrodinger at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SDGR. Raymond James Financial Inc. purchased a new stake in Schrodinger in the 4th quarter valued at about $325,000. XTX Topco Ltd purchased a new stake in Schrodinger in the 4th quarter valued at about $199,000. CANADA LIFE ASSURANCE Co boosted its position in Schrodinger by 4.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 72,765 shares of the company's stock valued at $1,402,000 after buying an additional 2,904 shares during the period. MetLife Investment Management LLC boosted its position in Schrodinger by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 34,554 shares of the company's stock valued at $667,000 after buying an additional 1,825 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Schrodinger by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,009 shares of the company's stock valued at $811,000 after buying an additional 3,376 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Schrodinger Stock Down 1.3%

Shares of NASDAQ SDGR traded down $0.25 during trading hours on Friday, hitting $19.51. 703,990 shares of the stock were exchanged, compared to its average volume of 1,412,113. The company has a market cap of $1.44 billion, a PE ratio of -7.87 and a beta of 1.67. The firm has a fifty day moving average price of $20.53 and a 200-day moving average price of $21.96. Schrodinger, Inc. has a 12 month low of $16.60 and a 12 month high of $28.47.

Schrodinger (NASDAQ:SDGR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. The firm had revenue of $54.76 million during 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%. Schrodinger's revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.66) EPS. As a group, equities analysts anticipate that Schrodinger, Inc. will post -2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SDGR shares. Barclays started coverage on shares of Schrodinger in a research report on Thursday, August 14th. They issued an "overweight" rating and a $25.00 price objective for the company. 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 report on Friday, August 15th. Morgan Stanley lowered their price target on shares of Schrodinger from $28.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Finally, KeyCorp lowered their price target on shares of Schrodinger from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.