Bank of New York Mellon Corp Makes New Investment in Schrodinger, Inc. $SDGR

Key Points

• Bank of New York Mellon initiated a stake in Schrodinger during the second quarter, purchasing 306,855 shares valued at approximately $5.0 million, or 0.42% of the company.
• Institutional ownership remains high at 79.05%, with several major investors—including Rubric Capital, Millennium Management, Lazard, Bank of America, and UBS—also increasing their positions.
• Schrodinger beat quarterly expectations with $0.08 in EPS and $58.89 million in revenue, but analysts maintain a consensus “Hold” rating with a $20.50 price target.

Bank of New York Mellon Corp acquired a new stake in Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 306,855 shares of the company's stock, valued at approximately $4,986,000. Bank of New York Mellon Corp owned about 0.42% of Schrodinger as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Rubric Capital Management LP increased its holdings in Schrodinger by 43.8% during the 1st quarter. Rubric Capital Management LP now owns 6,000,000 shares of the company's stock worth $68,160,000 after acquiring an additional 1,828,502 shares during the period. Millennium Management LLC increased its stake in Schrodinger by 1,075.8% in the 3rd quarter. Millennium Management LLC now owns 1,551,721 shares of the company's stock worth $31,128,000 after purchasing an additional 1,419,750 shares during the period. Lazard Asset Management LLC boosted its position in Schrodinger by 65.3% during the 3rd quarter. Lazard Asset Management LLC now owns 2,346,441 shares of the company's stock valued at $47,070,000 after buying an additional 927,234 shares during the period. Bank of America Corp DE increased its holdings in Schrodinger by 428.3% during the 2nd quarter. Bank of America Corp DE now owns 606,916 shares of the company's stock valued at $12,211,000 after purchasing an additional 492,032 shares during the period. Finally, UBS Group AG raised its holdings in Schrodinger by 51.3% in the 4th quarter. UBS Group AG now owns 1,442,799 shares of the company's stock worth $25,797,000 after purchasing an additional 489,059 shares in the last quarter. Institutional investors own 79.05% of the company's stock.

Schrodinger Stock Down 3.0%

Shares of NASDAQ SDGR opened at $20.09 on Friday. The business has a fifty day simple moving average of $17.36 and a two-hundred day simple moving average of $14.43. The firm has a market cap of $1.48 billion, a PE ratio of -27.15 and a beta of 1.69. Schrodinger, Inc. has a twelve month low of $10.94 and a twelve month high of $23.02.

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

Analysts Set New Price Targets

Several research firms recently weighed in on SDGR. Weiss Ratings upgraded Schrodinger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. Morgan Stanley lowered their price target on Schrodinger from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, May 14th. Wall Street Zen raised Schrodinger from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, UBS Group initiated coverage on Schrodinger in a research note on Friday, August 14th. They set a "neutral" rating and a $19.00 target price on the stock. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.50.

Schrodinger Company Profile

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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