Cetera Investment Advisers Takes Position in Schrodinger, Inc. $SDGR

Key Points

• Cetera Investment Advisers acquired a new stake in Schrodinger, Inc. during the first quarter, purchasing 17,105 shares valued at approximately $338,000.
• Schrodinger's stock price has recently been downgraded by several analysts, with Morgan Stanley lowering its price target from $28.00 to $19.00, and Citigroup reducing its target from $35.00 to $20.00.
• In its latest earnings report, Schrodinger posted a quarterly revenue of $54.76 million, surpassing analyst estimates, with a negative EPS of ($0.59) exceeding the expected ($0.83).

Cetera Investment Advisers acquired a new stake in shares of Schrodinger, Inc. (NASDAQ:SDGR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,105 shares of the company's stock, valued at approximately $338,000.

A number of other hedge funds also recently added to or reduced their stakes in SDGR. JPMorgan Chase & Co. lifted its stake in shares of Schrodinger by 2.3% in the 4th quarter. JPMorgan Chase & Co. now owns 125,479 shares of the company's stock worth $2,420,000 after acquiring an additional 2,777 shares during the period. Envestnet Asset Management Inc. raised its holdings in Schrodinger by 6.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 185,754 shares of the company's stock worth $3,583,000 after purchasing an additional 11,343 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Schrodinger in the fourth quarter valued at about $325,000. XTX Topco Ltd acquired a new stake in Schrodinger in the fourth quarter valued at about $199,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings 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 purchasing an additional 2,904 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Schrodinger Trading Up 3.8%

Shares of NASDAQ:SDGR traded up $0.74 during midday trading on Friday, hitting $20.32. 1,895,835 shares of the stock were exchanged, compared to its average volume of 1,444,404. The stock has a market cap of $1.50 billion, a P/E ratio of -8.19 and a beta of 1.67. Schrodinger, Inc. has a twelve month low of $16.60 and a twelve month high of $28.47. The company has a 50 day moving average price of $20.66 and a 200-day moving average price of $22.11.

Schrodinger (NASDAQ:SDGR - Get Free Report) last announced 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. Schrodinger had a negative net margin of 76.22% and a negative return on equity of 45.70%. The company had revenue of $54.76 million during the quarter, compared to analysts' expectations of $52.03 million. During the same quarter in the previous year, the business posted ($0.66) earnings per share. The firm's quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts expect that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.