ARK Investment Management LLC Boosts Stake in Schrodinger, Inc. (NASDAQ:SDGR)

Key Points

• ARK Investment Management LLC increased its stake in Schrodinger, Inc. by 3.9%, owning approximately 3.14% of the company with a value of $45.29 million as of the first quarter.
• Schrodinger reported a quarterly revenue increase of 62.7% year-over-year, totaling $59.55 million, despite a loss of ($0.82) EPS which missed expectations.
• 79.05% of Schrodinger's stock is owned by institutional investors and hedge funds, indicating a high level of interest among large investment firms.

ARK Investment Management LLC lifted its position in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,294,519 shares of the company's stock after acquiring an additional 85,761 shares during the quarter. ARK Investment Management LLC owned approximately 3.14% of Schrodinger worth $45,294,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SDGR. Proficio Capital Partners LLC acquired a new stake in shares of Schrodinger during the fourth quarter worth about $218,000. Raymond James Financial Inc. bought a new stake in Schrodinger in the 4th quarter valued at $325,000. Swiss National Bank increased its position in Schrodinger by 1.2% during the fourth quarter. Swiss National Bank now owns 125,100 shares of the company's stock worth $2,413,000 after acquiring an additional 1,500 shares during the period. Sei Investments Co. grew its position in Schrodinger by 9.5% during the fourth quarter. Sei Investments Co. now owns 20,304 shares of the company's stock worth $392,000 after buying an additional 1,755 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Schrodinger in the fourth quarter valued at about $264,000. Institutional investors own 79.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SDGR shares. KeyCorp reduced their target price on Schrodinger from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, July 14th. Morgan Stanley assumed coverage on Schrodinger in a research note on Thursday, July 3rd. They issued an "equal weight" rating and a $28.00 price objective on the stock.

Schrodinger Price Performance

Shares of Schrodinger stock traded up $0.16 on Monday, reaching $22.39. 881,957 shares of the company's stock were exchanged, compared to its average volume of 977,269. Schrodinger, Inc. has a 52 week low of $16.60 and a 52 week high of $28.47. The firm's 50-day moving average is $21.81 and its two-hundred day moving average is $22.54.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.01). The business had revenue of $59.55 million for the quarter, compared to the consensus estimate of $54.60 million. Schrodinger had a negative net margin of 83.39% and a negative return on equity of 44.74%. The business's revenue for the quarter was up 62.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.86) EPS. On average, equities analysts predict 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.